Earthworks specialist ZTL Contracting has grown its turnover by two-fifths, according to its latest filing.
The Middlesbrough-registered firm – which also has offices in Wakefield – posted revenue of £19.5m for the six months to the end of April this year.
This equated to a 41 per cent increase, on a month-for-month basis, from £27.6m in the full year to 31 October 2023.
ZTL shortened its latest accounting period to switch its year-end date to 30 April, which is in line with parent company Applebridge.
It posted pre-tax profit of £1.73m for the six-month period, which is a 17 per cent fall on a month-by-month basis compared to the £4.20m achieved in the previous full year.
Nonetheless, directors hailed “a period of significant growth” that they said “exceeded our strategic target of a 10 per cent increase in turnover against 2022/23 accounts”.
They said this rise in income was due to key relationships with developers, councils and “Midlands-based tier one contractors associated with large-scale logistics warehousing”.
Directors credited the company’s profit margin to the development of commercial strategies that left ZTL in “the enviable position” of not suffering a single loss-making month in the latest period.
The contractor is now aiming to grow turnover by a tenth in its next full-year results, with strategies including a new Midlands office, selective tendering and boosting capital projects.
It said it continued to invest in plant and technology.
ZTL also said it had a “clear emphasis on investing in youth” and that education and training were “absolute necessities”.
Directors said they looked to the current financial year with “cautious optimism” and were “optimistic” that diverse revenue streams and careful commercial controls left the business “well placed to see out” a challenging environment “likely to last until the end of 2025”.
Read More
Greg Pitcher