Esh reports jump in profits and £2bn pipeline
The Durham-based contractor has reported a rise in pre-tax profits from £2.9m in 2023 to £5.2m in 2024, and its highest cash balance to date, sitting at £36m.
Esh also has a pipeline of more than £2bn in its order books, and a turnover increase of £4m to £265m during 2024.
The firm has been selected as one of Gentoo Group’s delivery partners for its £170m ‘Gentogether’ programme, which secures a 10-year pipeline for the firm.
It is also working on key housing projects such as Havelock Park in Darlington, Elder Brook Park near the town’s sports stadium, and on schemes such as the Tyne Bridge Restoration, Stockton Waterfront Urban Park, and the 750-home Seaham Garden Village.
“During the first half of 2024, we closed out the majority of contracts that had been impacted by the aggressive rise in cost inflation over the previous two years, and in the second half of the year, every division of the group performed exceptionally well.
“With liquidity at an all-time-high, expanding gross profit margins, and a business plan delivering as intended, our group is well-positioned for continued success, with 2025 set to show an even greater improvement in profitability.
“That being said, we are certainly not being complacent – we must continue the relentless execution of our group strategy – a strategy that saw us through the challenging times during and after the pandemic.
“This, coupled with our prudent approach to working capital management, sensible work winning strategies, and quality and safe delivery, will provide a solid foundation for a prosperous future.
“Our strategy of focusing on resilient market segments has served us well in recent years, culminating in a headline order book exceeding £2bn…
“I’m genuinely proud of the dedication shown by everyone in the business – their incredible hard work, technical brilliance and laser focus on delighting our clients has helped shape the strong position we are in today. And, as ever, we are enormously grateful to our valued clients and our loyal supply chains for their continued support.”
