NuGen Properties

Stepnell steady in face of cost pressures

For the year to March 2023 Stepnell made a pre-tax profit of £1.27m on turnover of £93.7m

Pre-tax profit was up by just 1% on the previous while turnover was up by 3.5%.

Managing director Tom Wakeford said “Our performance reflects an ongoing commitment to performance improvement, and we are pleased with these results especially given the challenging circumstances of project budgets being squeezed by cost increases from rising inflation, an energy crisis, and shortages right across the industry, which is slowing the progress of planned projects.”

Looking ahead, Stepnell has already secured 80% of its 2023/24 planned revenue budget, citing frameworks and repeat work as the main sources of procurement.

“We have a solid foundation to keep building on our success,” Tom Wakeford said. “Our work across a number of frameworks is helping to secure a healthy project pipeline, this includes successes with the Scape Regional Construction framework and Southern Construction Framework (SCF). Our property portfolio also remains well let.

“Although turnover is slightly less than projected, our collaborative and early engagement approach to both our team and clients is what remains our key strength. As a family owned and led business, established in 1867 with a strong balance sheet, we can continue to be trusted, with our clients turning to us to deliver high quality service, good communication and excellent quality.”

Got a story? Email [email protected]

Source link

Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

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

Di Hayes 20/08/22

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

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

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

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.