Annual revenues at Manchester & Cheshire Construction have topped £10m for the first time, fuelled by improving market conditions and bigger projects.
The Salford-based firm saw turnover in the 12 months to September 30 increase by 21 per cent from £8.55m to £10.4m.
Staff number increased from six to 55.
The highlight was the largest contract in the firm’s 44-year history – a £6m project to refurbish and remodel the University of Manchester’s Samuel Alexander Building, which houses most of the School of Arts, Languages and Cultures.
Manchester & Cheshire began work at the site in June with a scheduled completion date of July 2017.
Major projects completed during the year included refurbishments of Manchester Museum and the Whitworth art gallery, and the construction of the Star Pavilion, a new venue for lectures, workshops and events at Cheshire observatory Jodrell Bank.
The firm also completed a £150,000 extension and upgrade to its headquarters.
Managing director Dave Lowe said improving market conditions and high levels of repeat business had helped the company achieve its strong performance.
Family-owned Manchester & Cheshire is targeting revenues of £12m this financial year, and £20m by 2018.
Mr Lowe said: “We are on track to achieve these goals as we target larger projects and seek to secure places on more frameworks to add to those we currently hold, such as Salford City Council, the University of Manchester, Cheshire East Council and Royal Mail.
“Our investment in a new development division is also beginning to bear fruit.
“In addition, the quality of our workforce has been greatly enhanced by a policy of targeted recruitment.
“The new financial year has begun strongly, with a 17 per cent rise in turnover during the first quarter, and we remain confident for the future.”
Since the year-end, the firm has announced the appointment of business growth expert Peter Collins as non-executive chairman, and has unveiled an alliance with a Chinese developer, the Chongqing Jinstar Real Estate Development Company, to buy sites for residential schemes in Greater Manchester.
Manchester & Cheshire undertakes building projects throughout the north west with a focus on the commercial, education, retail, industrial, residential and conservation sectors.
Main image: Chairman Peter Collins
