Building and civil engineering firm Andrew Scott has reported a surge in revenues and profits as it looks for further growth in 2024 and beyond.
The Margam-based business, which has been trading for more than 150 years and will soon move to a new HQ building in Swansea, grew revenues 39% to £73m in the year to end of June, 2023, with pre-tax profit up 42% to £1.7m.
Its secured order book at the year-end was £130m, resulting in a forecasted revenue in its current financial year of around £90m - with a healthy carry over into its 2024/25 financial year.
Cash in bank at the end of financial year was £9.7m.
Major contract wins for Andrew Scott during the year included a new £100m manufacturing facility for KLA in Newport, the £36m Old College project for Aberystwyth University and the £25m Pembrokeshire Eco Park.
Andrew Scott employs 266 direct staff in Wales, while supporting five times that number in its supply chains.
Managing director, Mark Bowen, said: “Throughout a difficult trading period we have continued to focus on adding value to our clients’ projects, bringing innovation and quality to the fore.
"The additional resilience provided by our client diversity, the skill and adaptability of our direct workforce and our strong financial position has enabled us to focus on our core strengths and values, contributing to another year of growth.
"Andrew Scott has again strengthened its market position by securing, extending and renewing a number of long-term frameworks and contracts. These provide visibility and stability in the order book for the foreseeable future.”
Andrew Hoppé, chairman, said: “We are encouraged that the momentum in the business has carried into the first half of the new financial year and our expectations for the full year to June 2024 have now increased. The company has secured over 75% of next year’s revenue (FY24/25) and expected an improved performance across both building and civils infrastructure.”
