Mechanical and electrical (M&E) specialist Dodd Group has reported double-digit percentage increases in revenue and pre-tax profit.
In its latest accounts covering the year to 31 March 2024, the Shropshire-based family firm – ranked 82nd in the CN100 2024 table – saw turnover grow by 21 per cent from £206.7m to £249.4m.
In addition, the firm’s pre-tax profit soared by 78 per cent to £6.3m, delivering a margin of 2.5 per cent compared with 1.7 per cent the year before.
Dodd’s client base includes tier one firms such as Galliford Try, Kier, Tilbury Douglas and Wates.
Directors said the firm’s construction division “continued to secure sizeable schemes with select main contractors across all regions”, targeting projects in the education, defence, justice and health sectors.
Dodd’s property services division “saw considerable growth” after being restructured into four sub-divisions, including a focus on retrofit, building services and decarbonisation.
The accounts also noted that the firm has long-term contracts to provide planned maintenance and infrastructure services at multiple Ministry of Defence facilities.
“The consistent revenue stream from the planned maintenance element of these frameworks continues to be supplemented by additional project work secured through our permanent presence on the bases,” directors said.
In the utilities sector, Dodd secured “significant repeat business” through long-term telecoms and water frameworks, they added.
Dodd remained free of bank loan debt and its cash reserves grew from £38m to £50.6m.
The firm paid out a dividend of £500,000 for the second consecutive year.
It employed an average of 1,117 staff in its past financial year, up from 965 a year earlier. As a result, the annual wage bill rose by 17 per cent from £43.5m to £50.8m.
Ongoing work includes a £3m M&E job for Farrans Construction at Barnfield College’s New Bedford Road campus in Luton, and a £2m job for Kier at Emmanuel Community School in London.
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Ben Vogel