Octavius Infrastructure, formerly Osborne Infrastructure turned over £191.2m in the year to 31st March 2022 (2021: £204m). Pre-tax profit was up 26% to £5.9m (2021: £4.7m).
Cash balance at year end was £8.3m (2021: £5.8m).
The 6% decrease in turnover was attributed mostly to “the completion of some large contracts during the prior financial year and the focus on more profitable business”.
Osborne Infrastructure Ltd was sold in September 2021 to Topoham Bidco, a holoding company capitalised by funds managed by Sullivan Street Partners. It was rebranded in March 2022 as Octavius Infrastructure.
The takeover has resulted in “a renewed strategic direction and five-year plan with strong emphasis on growth”, said chief executive John Dowsett.
The specifics of the plan were not revealed but it appears to be all about growth. He writes in the annual report: “We will grow our business by widening the geographic areas addressed as well as increasing our share of the large transport construction market in the areas already served.”