NuGen Properties

VolkerWessels improves margin to 2.8%

Chief executive Richard Offord

Pre-tax profit at VolkerWessels UK was up 39% to 37.7m (2021: £27.1m) in the year to 31st December 2022, on revenue up 17% to £1,349m (2021: (£1,152m).

The profit margin – at both operating and pre-tax levels – improved from 2.4% in 2021 to 2.8% in 2022.

The secured order book was worth £1,732m at year-end, down slightly from £1,769m at the start of the year.

All parts of the company saw growth in the year, said chief executive Richard Offord, who took over from Alan Robertson during the year, on 1st August 2022. Alan Robertson is now chairman.

Growth in the rail sector was driven by VolkerRail’s work on HS2, the East West Rail project and the Barking Riverside overland extension in London.

VolkerFitzpatrick is part of a joint venture putting in new infrastructure to prepare RAF Lakenheath to become the new European home of the US Air Force F-35 fighter jet. Its work includes upgrading 58 protective aircraft shelters, of which 18 have been completed so far.

“Throughout this difficult trading period, we have continued to focus on building on the value we add to our clients, bringing innovation to the fore,” Richard Offord wrote in the annual report.

“Our excellent reputation, supported by a strong heritage and consistent, dependable quality of work has continued to build amongst our clients, in the wider marketplace and within the industry. The group has again strengthened its market position in the period under review by securing, extending and renewing a number of long-term contracts. These contracts provide visibility and stability in the order book for our companies.”

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.