15 Apr 2025

Strong Performance as Caddick Construction Group Reports Record £356m Turnover

Caddick Construction Group has reported an annual turnover of £356m for the year ending 31 August 2024, reflecting the wider Caddick Group’s focus on steady, sustainable growth and a strong future.

Representing a 12% growth in revenue compared to the previous 2022/23 year, the uplift powered pre-tax profit forward to £8m with a margin remaining stable at 2.4%.

Alongside growth in revenue, Caddick Construction Group’s order book has continued to grow by 7% to £750m and year-end cash increased to £32.8m from £31.9m along with no debt, positioning Caddick Construction Group well for a strong future.

The results form part of the 2023/24 figures for the wider Caddick Group, which consists of Caddick Construction, Caddick Developments and Moda Living. The group saw a consolidated turnover of £606m, a 23% increase in gross profit to £70m and net asset growth to £202m.

Caddick Construction Group’s results follow a year of milestones for the business, including the launch of its new Wakefield headquarters in June last year. This was followed by the recent opening of its first North East office in Durham.

The year also saw Caddick Construction Group grow its project pipeline across the Northwest, Cumbria, North East, Yorkshire and the Midlands with key appointments including the new Schneider manufacturing facility in Scarborough alongside Caddick Developments. Work in the public sector also includes the expansion of Loreto Sixth Form College in Manchester.

Growing its portfolio of residential and industrial and logistics projects, Caddick Construction’s recent appointments include the first phase of Cole Waterhouse and Taurus Investment Holdings LLC’s Upper Trinity Street in Birmingham and Max Spielman’s new warehouse on the Wirral. 

The 2023/24 annual results for Caddick Construction Group also includes the turnover of its two specialist sub-contracting businesses, Caddick Civil Engineering and CCL Facades, both of which are sustainably growing their turnover and profitability both with Caddick Construction and industry third parties.

Paul Caddick, Chairman at Caddick, said: “I’m incredibly proud of the results we’ve achieved this financial year, with a strong turnover reflecting the hard work and dedication of our staff as we continue to build our pipeline and further invest in our people. Our people are at the heart of everything we do, and these results are a testament to the collective effort across the business, underlining our purpose of creating thriving communities.”

Paul Dodsworth, Construction Group Managing Director, commented: “The past few years have seen the group achieve significant operational and financial progress. We are determined to work with clients and partners that share our values for quality and as a result, the contracts within our order book reflect the bidding discipline and risk management now embedded in the business.

“Our strategy is to balance our portfolio between the public and private sectors, growing our education and defense work pipeline alongside our core residential and industrial sectors. This ensures stable profitability to protect our business, our people, our clients and our supply chain. The success for future years is underpinned by the year-end order book, resulting from a large number of contract wins across Construction, Civil Engineering and CCL Facades, providing multi-year revenue visibility.

“We are well positioned to continue benefiting from UK Government spending commitments and we are confident in sustaining strong cash generation, especially over the last few years, allowing us to grow and deliver the evolved long-term sustainable growth plan for Caddick Construction Group.

“Over the past year, the Caddick Group has also extended its commitment to having a positive impact in the places where it operates. We have made real progress in our scope 1 and scope 2 emissions.”

Jessica Harmen, Group Head of ESG and Sustainability, is leading the group’s ‘Places for Life’ strategy, originally launched in 2023, aimed at ensuring the projects across the different arms of the business will prioritise the three key ESG areas - communities, environment and business - to create sustainable places for current and future generations.