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Frameworks and care homes boost GB Group

GB Group saw a 4 per cent rise in turnover and pre tax profit in 2011 as it focused on frameworks and specialist sectors such as care homes.

The private construction, development and property management firm – which was awarded the 2011 CN Best Building Award £10m-£50m for its £46m William Wake house mental health facility – saw revenue rise by 4 per cent to £130.1 million in the year ended 30 June 2011, with pre tax profit at £1.27m, up from £1.22m in 2010.  Cash is up 37 per cent from £11.4m to £15.23m.

The company said 75 per cent of its work has been secured through repeat business, with particular successes in north west frameworks, including with Manchester City Council.

The firm reported completed care home schemes in Hampshire and Stoke-on-Trent, while GB Development Solutions has invested in a hotel site in Leeds along with two care home joint ventures.

Chief executive and chairman Martin Smout said the firm has focused on end-to-end solutions, which also include renewables - such as a £7m photovoltaic contract in Northumberland - and facilities management.

The former Carillion Building managing director, who helped form GB Building Solutions six years through a management buyout of the building division of Gleeson Construction Services Ltd, said:  “We have benefited from our strategy to concentrate on repeat business, our ever increasing portfolio of frameworks and our focus on our specialist sectors in care, education, hotels & leisure, commercial and residential.”

He added:  “Our commitment to add value to our clients has led to our broadening the group over the last 12 months with the expansion of the general works division.”

Mr Smout said work in the public sector is “still strong despite the depressed market conditions”, but conceded that 2012 will “remain challenging”.

More recent contract wins include a £30m student accommodation contract for the University of Leeds and the construction of 80 luxury flats in the city for Rushbond Group. Its new student accommodation at the University of Bradford was awarded the highest sustainability BREEAM Outstanding rating in the world in September.

The firm also took full control of Oxford GB from joint venture partner Oxford Hotel Projects.

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