Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Esh Group 2014 results show profit almost trebling

Esh Group has grown turnover by 43 per cent following its acquisition of Border Construction last April.

The Durham-based firm saw turnover rise from £193.3m to £277m in 2014, boosted by £20m in revenue from Border Construction, now known as Esh Border Construction.

Pre-tax profit for the group almost tripled, growing from £3.2m in 2013 to £9.5m.

Contracting accounted for 90 per cent of the group’s revenue in 2014, but its residential housebuilding arm Esh Homes is expected to grow, with developments planned in new areas for the firm such as Scotland and Yorkshire.

Group chief executive Brian Manning said: “The significant geographical reach of our diverse range of construction and property businesses, supported by a strong financial base built up by shareholders over a number of years, has been key to Esh Group’s growth.

“Our dedicated employees have been our hard-working foundations and, with their continued support, we remain confident of further success.

“These results show a strong, secure and well-diversified business which is fair to shareholders and contributes to local economies.

“While development has been limited during the last five years, favourable conditions are returning and Esh Group is now prepared to give the green light to schemes in a controlled manner using our strong cash position to leverage funding.”

Esh paid around £6m to shareholders during the year, as part of a reorganisation of its share scheme.

Mr Manning added: “This reorganisation has created headroom in order that we can reward more people through the share scheme. 

“The payments made have been directed towards those who have left the company or are nearing retirement so that they may enjoy the fruits of their hard work. 

“None of the founder shareholders or senior team has taken money out.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.