Record annual turnover for Needham Market-based Breheny Civil Engineering
- Credit: Archant
Suffolk-based civil engineering group Breheny has posted strong growth in annual revenue and profits, with turnover topping £100m for the first time.
Figures filed at Companies House show that Breheny, which is based at Creeting St Mary, near Needham Market, generated revenue of £115.056m in the year to March 31, 2017, an increase of 43% compared with the total of £80.427million for the previous 12 months.
Operating profit grew by more than two thirds (68.6%) to £1.725m, from £1.023m, and pre-tax profit rose by more than half (53.5%) to £1.608m, from £1.047m.
In their strategic report accompanying the accounts, Breheny’s directors say the results reflect the trend of favourable trading conditions seen the sector for the past two years.
However, they add: “Whilst we readily acknowledge that good sales volumes have been present in the industry for a few years now, the key has been to deliver these sales whilst maintaining acceptable levels of profit.
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“During the year, we have completed a number of large and interesting projects across the business, most notably infrastructure works at Great Yarmouth harbour.
“The trend for bigger average project size has continued. Once again, servicing this level of turnover successfully is the key challenge for the business.
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“For the majority of our contracts, our procedures and overall risk management have been highly effective, but some disappointing results on a few projects remind us that there is no room for complacency.”
Looking ahead, the report adds: “Despite the uncertainty created by the Brexit negotiations impacting upon the current economic news, we believe that our trading pipeline and future prospects remain very positive for our immediate forecast period for the next 12 months.
“As negotiations progress over the next 12 months, we will seek to consider the longer term effects that could impact the industry and the wider economy, and react accordingly.”
Breheny Civil Engineering (known until December last year as J Breheny Contractors) is the principal business of the Breheny Group, a member of the EADT/EDP Top 100 listing of the largest companies based in Suffolk and Norfolk.
The group has recently launched a new groundworks business, Terrasite, and a multi-utilities business, Networx Utilities.