Stepnell profits improve
Construction specialist Stepnell, which has offices in Kidderminster, has announced a rise in profits for the year to the end of March.
The 151-year-old family-owned firm which operates across central and southern England has attributed its strong business performance to a focus on business efficiency, project selectivity and robust risk management.
Stepnell reported revenue for the year up 15 per cent from £127.4 million to £146.3m with a significantly improved profit before tax of just over £2.07m from £787,254 a yearago.
The company’s current order book stands at a healthy £190m.
“Despite general market uncertainty, Stepnell has had a good year with the business securing more profitable, high quality projects and expanding our geographic reach with the opening of a new office in Southampton and the acquisition of new premises in Bromsgrove strengthening our presence in the West Midlands,” said Tom Wakeford, joint managing director of Stepnell.
“Business growth has also been driven by the company’s complex project capability and the commitment of our talented staff to provide our clients with a first-class construction service that adds real value to their organisations.”
Stepnell’s performance has also been helped by an increase in project opportunities coming through a growing portfolio of long-term construction frameworks with clients that include National Grid; Worcester, Oxford Brookes and Reading universities and Dorset County Council.
In Birmingham, Stepnell has completed the final phase of work on national disability charity Sense’s £14 million TouchBase Pears centre in Selly Oak, and was appointed by Cordwell Property Group to build Wisemore Central, a mixed-use regeneration scheme in Walsall that will bring a Travelodge Hotel, McDonald’s, and a further 15,000 sq ft of leisure and retail premises to the town centre.
