Lindum Group grew its profit and revenue in a year during which its long-serving former chairman stepped down.
The Lincolnshire-based contractor posted turnover of £198.8m for the 12 months to 30 November 2024.
This was up 7 per cent from the prior year – when Lindum finished 88th in the CN100 rankings – while pre-tax profit increased by 22 per cent to £2.7m.
David Chambers, son of founder John Chambers, stepped back from the chairman role in April 2024 after more than three decades in the role.
The former chairman’s sons, Freddie and Edward Chambers, took over as co-chairs.
The co-chairs hailed “a good year” due to close teamwork and other factors such as a “practical approach” to projects.
A directors’ report published with the latest results said Lindum’s turnover increase was “mainly driven by recent levels of inflation on the value of building and roofing work we delivered”.
Construction contracting income rose 6 per cent to £172m in the latest accounts, as the Chambers brothers described a “regional approach to serving clients from our offices in York, Peterborough and Lincoln”.
Other activities such as homes and joint venture developments; plant hire and vehicle servicing; and waste recycling all saw increases.
Revenue from other construction services fell marginally to £247,700.
Lindum said it had £21.8m worth of work in progress in November 2024, down from £23.2m a year earlier, due mainly to the completion of two residential developments in Lincolnshire.
The firm said it had a “satisfactory” workload ahead of it and “good jobs currently underway across all our divisions… and across a good range of sectors for a diverse range of clients”.
It added: “While we expect tough trading conditions for the year ahead, there are likely to be good investment opportunities which we can take advantage of thanks to our financial strength.”
Completed projects since the period in the latest accounts include the refurbishment and amalgamation of multiple retail units at Teesside Shopping Park this March, paving the way for a Sports Direct megastore.
Lindum held cash at bank of £72.8m, up from £61.9m the year before.
The firm had no short-term repayable loan debt and owed £504,400 in loans after more than five years.
It paid out £1.8m in dividends compared with £1.6m in the previous financial year.
Lindum’s monthly average staff headcount at the firm was broadly flat at 633 employees in the most recent year.
Staff costs were up 8 per cent to £33.2m.