Turnover at West Yorkshire firm tops 拢600m
The construction arm of West Yorkshire contractor and developer Caddick Group saw income jump by nearly half last year with the firm expecting to break the 拢500m barrier by the time it files its next set of accounts.
The division, which also includes a civil engineering business which tends to work mainly for housebuilders, saw income go up by 53% to 拢333m in the year to August 2024 although pre-tax profit slipped 3% to 拢6.4m.
In accounts filed at Companies House, it said that construction was forecast to have a turnover of 拢500m this year with 拢347m of that already secured.
Caddick said that the first full year of trading at its facades business, CCL Facades, saw it post a turnover of 拢9.5m and a pre-tax profit of 拢600,000.
Construction is the biggest part of Caddick鈥檚 business after income at its property development arm fell a quarter to 拢258m. Pre-tax profit at the division, which works in the residential and industrial sectors, continued to slide, falling 21% to 拢26m.
In the year to August 2022, the figure was 拢64m and in his chairman鈥檚 statement accompanying the latest accounts, founder Paul Caddick referenced 鈥渁 slower real estate funding market鈥� in the wake of 鈥渃ontinued challenges in the wider domestic and global economy鈥�.
Caddick Group also owns a majority stake in the company that owns Leeds Rhinos rugby league club with pre-tax losses at its professional sporting activities arm, which includes a netball team, falling 拢200,000 to 拢1.7m.
The firm said the fall was down to Leeds Rhino reducing pre-tax losses to 拢1.8m while revenue from the club鈥檚 commercial activities hit a record 拢5.2m.
Overall group turnover at Caddick was up 5% to 拢604m but pre-tax profit slipped 17% to 拢29m. Cash reserves were up 拢10m to 拢60m.
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