{"id":812554,"date":"2024-12-17T21:14:47","date_gmt":"2024-12-18T03:14:47","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/17\/north-east-civils-firm-grows-revenue-and-profit-as-headcount-falls\/"},"modified":"2024-12-17T21:14:47","modified_gmt":"2024-12-18T03:14:47","slug":"north-east-civils-firm-grows-revenue-and-profit-as-headcount-falls","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/17\/north-east-civils-firm-grows-revenue-and-profit-as-headcount-falls\/","title":{"rendered":"North East civils firm grows revenue and profit as headcount falls"},"content":{"rendered":"
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\"Money<\/p>\n

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Civils specialist Applebridge Construction has grown both turnover and profit by a third despite slashing its headcount.<\/p>\n

The Middlesbrough-based contractor posted income of \u00a382.9m for the year to 30 April 2024, up 33 per cent on the previous year.<\/p>\n

Meanwhile, the firm’s pre-tax profit soared by 34 per cent over the same timeframe to \u00a37.2m.<\/p>\n

But the firm’s average number of monthly employees fell from 168 in the year to the end of April 2023 to just 122 in the most recent spell.<\/p>\n

Applebridge attributed its strong performance to new relationships with housing associations in the North East and “controlled growth” in its multi-utility division.<\/p>\n

Repeat business accounted for about four-fifths of the company’s turnover in the latest year, it said.<\/p>\n

The firm’s pre-tax profit margin remained consistent with the previous period after it “managed to carefully control the rising costs of wages, materials and overheads”.<\/p>\n

Despite the drop in headcount, costs of employment rose 5 per cent to \u00a32.9m.<\/p>\n

The firm had net assets of \u00a314.8m at the end of April 2024, up from \u00a310.8m a year earlier.<\/p>\n

Applebridge said its cash position “continues to improve through operating profits, careful overhead cost control and prompt cash recovery”.<\/p>\n

It added that it had achieved three strategic goals in the latest year: rebalancing its turnover split between speculative and social house building; targeting multi-utility contracts; and achieving tier one status with Virgin Media.<\/p>\n

The firm said it had continued to invest “heavily” in plant, technology and training with a focus on worker wellbeing.<\/p>\n

Directors said the company was “well placed” to see out a “challenging environment” it expected to last into next year. Inflation remained elevated, it warned, and the cost of debt was “still predicted to be high”.<\/p>\n

The contractor was one of 33 firms selected by Northumbrian Water this year<\/a> for an 11-lot framework to be used on the utility giant’s asset management period 8 capital investment programme.<\/p>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Greg Pitcher<\/p>\n","protected":false},"excerpt":{"rendered":"

Civils specialist Applebridge Construction has grown both turnover and profit by a third despite slashing its headcount. The Middlesbrough-based contractor posted income of \u00a382.9m for the year to 30 April 2024, up 33 per cent on the previous year. Meanwhile, the firm’s pre-tax profit soared by 34 per cent over the same timeframe to \u00a37.2m.<\/p>\n","protected":false},"author":1,"featured_media":812555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[104325,1319],"tags":[],"class_list":{"0":"post-812554","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-civils","8":"category-north"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/812554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=812554"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/812554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/812555"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=812554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=812554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=812554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}