Bristol Airport
The Statom Group has increased its profit and turnover after increasingly turning to infrastructure jobs.
The contractor, which was formerly regarded as a concrete frame specialist, now also works across civil engineering, infrastructure, demolition, groundworks and other sectors as part of a strategy to develop what it calls a “holistic in-house delivery system”.
Its latest accounts showed it turned over £180m in the year ending 30 November 2024, up from £143.2m the year before.
Pre-tax profit rose to £10.3m compared with £8.5m in the prior period.
The firm’s margin narrowed slightly from 5.9 per cent to 5.7 per cent.
In a statement with the results, the company said it had “continued to diversify by enhancing its offering in the infrastructure space in order to protect the business against any potential downturn in the residential sector”.
Chief executive Stan Nikudinski said the industry had a “challenging year” featuring a muted demand for new-build housing due to high interest rates and inflation.
He added: “Despite the industry’s ongoing challenges, we continue to display resilience and diversify our offering in different market areas.
“Our efforts have yielded tangible progress, with external clients increasingly recognising and embracing our strategy, value proposition, and operational framework. This has allowed us to diversify not only our client base significantly throughout the year but also the sectors we are operating in.”
Contracts delivered during the year included the concrete frame for a new multistorey car park extension at Bristol Airport (pictured), a civil engineering package for the construction of a port serving the offshore wind industry in Inverness, and construction of a 40-metre precast bridge across the River Ouzel in Milton Keynes.
The firm spent £2.7m on “leasehold improvements” at its new London Bridge head office during the year, moving to the city from Grays, Essex, in order to be closer to the management of its London-based projects.
Statom almost doubled its cash at hand from £15.8m to £31.2m and the firm held no bank loans.
Average monthly staff headcount increased from 84 employees in its 2023 financial year to 125.
As a result, Statom’s annual wage bill rose by 50 per cent from £4.8m to £7.2m.
The now-diversified firm took fifth place in last year’s CN Specialists Index for concrete contractors.
Its accounts also noted its win as Specialist Contractor of the Year at the 2024 Construction News Awards.
Looking ahead, Nikudinski said the firm expected “further profitable growth”.
He described a “robust secured pipeline” of £210m for the current financial year and £130m for the year after.
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Ian Weinfass