NuGen Properties

Growth for regional builder but inflation hovers

Growth for regional builder but inflation hovers


CG Fry’s work at Poundbury

Dorchester based CG Fry, whose portfolio includes the ‘village’ of Poundbury, grew turnover 13% in 2021 to £108.4m (2020: £96.0m).

Profit before tax, was £11.7m (2020: 10.4m).

CG Fry & Son is owned and managed by 56-year-old Philp Fry, grandson of the founder of the company, Charles George Fry.

Group turnover in 2021 comprised £88.6m from developments and £19.8 from contracting, up from £81.0m and £14.9m respectively in 2020. During the year CG Frey completed 203 private homes with an average selling price of £362, 400 and 62 affordable homes.

Finance director Ludovic Blackburn reports in the company’s accounts: “There was, and there continues to be, high demand for our contracting services and this growing side of the business has a reputation for delivering a quality product.”

Third generation owner Philip Fry
Third generation owner Philip Fry

However, he added that while house price inflation had kept up with cost inflation in house-building activities, “inflation is more difficult to manage for the contracting department because income is generally fixed in advance. We are therefore cautious with the terms of new contracts to mitigate costs and supply risk where we can.”

He said: “Construction cost inflation is currently a concern. The company is managing this by looking at alternative specification, budgetary control, increasing supply chains and contract flexibility. The forthcoming changes in the building regulations will increase the cost of construction and this is being monitored carefully. “

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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.