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Seddon grows revenue in first-year as standalone company

Seddon Solutions grew turnover by 3 per cent in 2014, in its first set of full-year financial results since the construction and housebuilding arm split from Seddon Group in 2013.

Seddon brought in £190m in revenue, boosted by growth in new home sales on the back of the government’s Help to Buy scheme.

The business made a pre-tax profit of £1.4m, meaning the firm operated at a margin of 0.74 per cent.

Housebuilding division Seddon Homes increased sales by 18.5 per cent to £30.6m in 2014.

Seddon chairman Rod Sellers said: “We are in a strong position as the sector recovers from one of the deepest recessions the country has ever seen.

“As a family-owned company we have been able to ring fence our training, when many of our competitors have slashed budgets to protect profits.

“Where many are now struggling to train to meet contract demands, we have steadily increased our workforce and are now in strong position as the market recovers.”

The group employed 57 apprentices in 2014, out of a total workforce of 700 staff.

Seddon Group, which had a combined turnover of £300m, announced its split into three separate arms in April 2013, with each run by a member of the founding family.

The group’s former property services and engineering businesses now operate as standalone companies.

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