Construction group doubles its profits

Feb 20 2008 by Tony McDonough, Liverpool Daily Post

WEST Lancashire-based construction firm CPUK reported yesterday that its profits had almost doubled.

The Skelmersdale company said pre-tax profits for 2006-07 came in at £684,778 – up from £346,02 a year earlier.

Turnover for the period was 33% higher at £20.8m with more than 50% of revenues coming from repeat business with existing clients. Projected turnover for 2007-08 is approaching £30m.

Over the last 12 months the firm, which has clients in all sectors of the building industry, also saw its workforce grow from 50 to 64.

Its figures reveal that almost 90% of the total turnover of the company was negotiated rather than won through a competitive tender process.

Projects include work for a number of blue-chip companies, such as property giant Peel Holdings and Metier on a number of high-profile schemes across the North West.

Finance director Stuart Whittle said: “It is a measure of the success of the business and its growing reputation in the market place that 50% of the turnover for the year came from repeat business. In addition, a significant proportion of new business now comes from referrals from existing clients.

“In the year to September 30, 2007, some 88% of the total turnover of the company was negotiated rather than won through a competitive tender process, demonstrating we are successfully completing projects for both new and existing clients.”

CPUK's business wins have come across all sectors.

They include a £6m residential development for Hillcrest Homes, in Cheshire, and a £7m apartment development in Preston.

The firm has also begun work on the £3m first phase of a new office development at White Moss Business Park in Skelmersdale for Metier, and Pacific Quay, a £4m office project near Salford Quays, Greater Manchester, for Peel Holdings.

CPUK was founded in March, 2000, by Steve Burke, a former director of Birse Construction and Wimpey, and Stuart Whittle, former managing director of a £150m turnover aerospace company.

tonymcdonough