Yorkshire building contractor bucks trend, reporting record profits.

Jul 2008

Castleford based building contractor, Strategic Team Group unveils another record set of results. The company saw a 52 per cent increase on revenue to £27 million and net operating profit before tax across the group increased by 50 per cent to £2 million for the year to the 31st March 2008.

The announcement follows a shareholder reconstruction of the business in a deal worth over £11 million funded by Barclays Ventures in March 2008, which released additional resources for organic growth and acquisitions. The deal also saw the amalgamation of Strategic Team Maintenance Co.Ltd and Strategic Team (Scotland) Ltd to form Strategic Team Group Ltd.

In a year, which saw devastating floods hitting the country, the company was able to react quickly, securing refurbishment and remedial works for insurance purposes on offices, industrial buildings and residential homes. Furthermore, despite the struggling property market, the company has seen its core markets remaining strong, including social affordable housing, high-profile residential schemes, government (education and public buildings), rail, leisure and oil.

Commenting on the company's performance, Andy Watson, Strategic Team Group managing director said:

"Despite the downturn in the property market and increasing competition, our pre-tax profit and asset growth have, once again, increased significantly. Our future order book is already worth over £25 million, so we have got a very promising year ahead. Encouragingly, we are now projecting to be one year ahead of our three-year business plan, with a turnover of around £37 million for 2008 / 2009.

"We remain totally committed to our core purpose of delivering building solutions encompassing new build, refurbishment, fit-out, small works and maintenance despite what is likely to be a tough operating environment in the year ahead."

Andy Watson continued:

"Our business success is built on employing and retaining the best people, our teams remain at the heart of our vision and mission. We are recognised for providing some of the best terms and conditions of employment in the industry, which is reflected in staff retention and recruitment."

The year also saw the company hosting a charity gala dinner and business awards at the Royal Armouries in Leeds, which resulted in over £22,000 being raised for Cancer Research UK.

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