NuGen Properties

40% growth for John F Hunt


bringing down the house – John F Hunt demolished the Kensington Odeon cinema in 2021

In the year to 31st March 2023, John F Hunt Group turned over £157.1m (2022: £108.8m) while profit before taxation was up 73% to £9.5m (2022: £5.5m).

In its 2021 financial year, group turnover was £81m.

At the same time, the net worth of the business, as shown in the accounts, has risen from £23.4m in 2021 to £33.7m last year. It remains privately owned by chairman John Hall, who formed John F Hunt Contracting Ltd in 1982 in Essex, initially specialising in industrial and chemical plant dismantling.

Finance director Ian Saville wrote in the 2023 annual report, filed last week: “Turnover and overall margin are expected to be maintained for the current year. The directors are confident that the expansion of portfolio services by acquisition, discipline and geographic location will provide significant opportunities for the group in both the construction and nuclear decommissioning sectors.”

The demolition business John F Hunt Ltd grew turnover by 15% to £67.3m (2022: £58.3m), with pre-tax profit flat at £1.6m (2022: £1.6m) due to the rising price of concrete and steel.  

“Tender levels remain strong with  number of major tenders being submitted in 2022/23 resulting in a number of significant contract awards,” the fiancne director said. “The company has a significant amount of secured workload heading into 2023/24.”

John F Hunt Regeneration doubled its turnover to £79.0m (2022: £39.0m) and increased operating profit to £6.0m (2022: £2.0m).

Hire services contributed £13m turnover and asbestos consultancy another £5m.

John F Hunt was fined £5.6m in March 2023 by the Competition & Markets Authority for collusion and bid rigging. It was one of 10 demolition contractors found to have been rigging the market between 2013 and 2018. That fine was taken as an exceptional charge in the 2021 accounts, in advance of it being officially handed down.

Got a story? Email [email protected]



Source link


Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Google
Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

Google
NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Google
Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Google
Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Google
Great firm to communicate with fast and good quality work.