Ipswich-based One Group Construction has launched a new building arm after increasing revenue and profit in its latest full-year results.
The contractor has launched a new division, SEH French Building, to undertake small-to-medium-sized building projects.
It will be headed up by managing director John Ault and will work on new-build and fit-out projects, sitting alongside One Group’s larger building business SEH French Construction, which undertakes larger-scale commercial projects.
One Group chief executive Richard Neall said it was “the right time” to launch SEH French Building to “cater for a gap in the market for smaller building projects”.
Projects that SEH French Construction is currently working on include a 55,000 sq ft office development in central Ipswich, and a 129,000 sq ft manufacturing facility and office for client Nature’s Menu.
The launch of the business follows a 79 per cent rise in pre-tax profit at the group, which includes other brands such as Jackson Civil Engineering and Emmitt Plant.
Pre-tax profit increased to £7.6m for the year to 31 December 2016, according to documents filed at Companies House, up from £4.2m a year earlier, while turnover at the group rose to £135.5m, up from £127.4m over the same period.
Jackson Civil Engineering was the group’s strongest performer with a turnover of £77m and an operating profit of £3.6m, while SEH French reported a turnover of £15.6m and an operating profit of £213,000, which the group described as “extremely pleasing after several difficult years”.
The portfolio of One Group’s civils arm include works on London’s Olympic Park (pictured) for the Olympic Delivery Authority.
The group’s cash position improved, leaving the company with cash in the bank and in hand of £28.3m at the end of the financial year, compared with £21.4m a year earlier.
It also increased employee numbers to 522, up from 493 in its 2015 results.