Expanding contractor grows revenue by more than a quarter

Fast-growing contractor Wynne Construction pushed up its turnover by 27 per cent in its latest financial year, though it fell short of a management prediction of £100m.

Newly published accounts for the firm, which is headquartered in Denbighshire, North Wales, showed its revenue reached £90.6m in the 12 months to 31 July 2024.

The figure is up from £71.1m in its prior financial year, although below the £100m target set out by managing director Chris Wynne in its previous set of accounts.

Revenue at the contractor – which was incorporated in 1959 and traces its activities back to 1936 – has rocketed in recent years, standing at just £17m in 2015 and reaching £32.9m in 2022.

Pre-tax profit grew to £2.3m in the latest period, from £2m in 2023.

In a statement with the accounts, Wynne said the contractor was “well-positioned for sustainable, disciplined growth”.

“We are focused on long-term client relationships and regionally focused operations, with 60 per cent of our current turnover derived from framework agreements. These partnerships offer clients efficient procurement while supporting our growth with stable, recurring work,” he said.

The firm, which delivers housing, schools, commercial facilities and care homes, has expanded into England as part of its growth strategy.

It also grew its cash at bank and in hand to £18.8m in 2024, from £13.3m the year before, the results showed.

Wynne said the company’s £72m year-end order book reflected “the strength of our project pipeline and consistent new contract wins”.

“However, I am not complacent and the construction sector in Wales faces a mix of challenges, including rising material costs, inflation, and increased demand for modern methods of construction,” he added. “Legislative changes like the Building Safety Act 2022 will reshape industry standards.”

He said Wynne Construction would seek to navigate those challenges through “embracing innovative construction methods, committing to sustainability, and investing in workforce development”.

The company formerly traded as C Wynne & Sons and is still registered under that name at Companies House.