NuGen Properties

Gilbert-Ash profits reduce by two thirds

Managing director Ray Hutchinson

Gilbert-Ash Holdings made a pre-tax profit of £4.7m in 2022, down from £12.4m in 2021, on turnover of £263.2m (2021: £219.3m).

The 2022 results came on the back of record results in 2021.

Managing director Ray Hutchinson cited inflationary pressures and economic headwinds – the cost of sales was up 26% – but he described the results as “a strong performance” and said that the group maintains “a robust financial position” with net assets of £25.5m (2021: £24.6m).

Among Gilbert-Ash’s current projects is the £38m redevelopment of Theatr Clwyd in Mold, North Wales.

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Dan Morten 18/01/22

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

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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.

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