{"id":825317,"date":"2025-02-08T07:11:37","date_gmt":"2025-02-08T13:11:37","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/08\/leeds-based-contractor-doubles-turnover-to-117m\/"},"modified":"2025-02-08T07:11:37","modified_gmt":"2025-02-08T13:11:37","slug":"leeds-based-contractor-doubles-turnover-to-117m","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/08\/leeds-based-contractor-doubles-turnover-to-117m\/","title":{"rendered":"Leeds-based contractor doubles turnover to \u00a3117m\u00a0"},"content":{"rendered":"<div id=\"wrapper_sleeve\">\n<p><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/emap-romulus-prod.s3.eu-west-1.amazonaws.com\/wp-content\/uploads\/sites\/8\/2025\/02\/Phoenix_Leeds.png\"   alt=\"Phoenix_Leeds.png\"><\/p>\n<div>\n<p>Leeds-based Torsion Construction has more than doubled its turnover to \u00a3117m.<span>\u00a0<\/span><\/p>\n<p>The contractor said its turnover increased by \u00a360m in the year ending 30 June 2024 as a result of its average contract size increasing from \u00a315m to \u00a340m. The group also increased its order book from \u00a3122m to \u00a3500m.<span>\u00a0<\/span><\/p>\n<p>During the year Torsion Construction\u2019s average headcount increased from 84 to 129, with the group hiring a new managing director and regional director. It also handed over its largest project to date, a \u00a357m luxury housing scheme in central Leeds (pictured).<\/p>\n<p>Torsion Construction operates across the North of England and Midlands, with 57 per cent of its workload coming from its sister company Torsion Developments, which develops build-to-rent and private housing schemes.<\/p>\n<p>Group chief executive Dan Spencer welcomed the firm\u2019s \u201ccontinued stabilised profit\u201d, with pre-tax profit more than tripling from \u00a3116,000 to \u00a3404,000. However, the contractor\u2019s pre-tax profit margin remained low at 0.3 per cent.<span>\u00a0<\/span><\/p>\n<p>In a strategic report accompanying the accounts, Spencer said profitability was \u201cstill impacted by lower margins on a number of contracts won during Covid-19 and pre-inflation pressures\u201d.<span>\u00a0<\/span><\/p>\n<p>But he added: \u201cFuture years are expected to improve year on year as these contracts are now closed out.\u201d<span>\u00a0<\/span><\/p>\n<p>Torsion Construction said it was targeting turnover in excess of \u00a3200m in 2026, while also aiming to strengthen its balance sheet \u2013 where net assets increased from \u00a3500,000 to \u00a32.7m in its last financial year.<\/p>\n<p>Since the period covered by the latest accounts, <a href=\"https:\/\/www.constructionnews.co.uk\/buildings\/torsion-and-hgp-form-joint-venture-for-53m-sheffield-resi-scheme-05-07-2024\/\">the contractor announced a joint venture<\/a> with Housing Growth Partnership to deliver the \u00a353m Hollis Croft residential build-to-rent project in Sheffield.<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.constructionnews.co.uk\/financial\/leeds-based-contractor-doubles-turnover-to-117m-07-02-2025\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Will Ing<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leeds-based Torsion Construction has more than doubled its turnover to \u00a3117m.\u00a0 The contractor said its turnover increased by \u00a360m in the year ending 30 June 2024 as a result of its average contract size increasing from \u00a315m to \u00a340m. The group also increased its order book from \u00a3122m to \u00a3500m.\u00a0 During the year Torsion Construction\u2019s<\/p>\n","protected":false},"author":1,"featured_media":825318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26535,141516],"tags":[],"class_list":{"0":"post-825317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-contractor","8":"category-leeds-based"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/825317","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=825317"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/825317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/825318"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=825317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=825317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=825317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}