Strong results as £180m turnover firm expands into infrastructure sector
Statom Group has enjoyed a surge in profits and turnover after diversifying into new markets.
Latest results for the year to 30 November 2024 show turnover up to £180m from £143m last time while pre-tax profit jumped to £10.3m from £8.5m as gross profit margins remained steady at 16% and the year-end cash balances grew significantly to £31.2m
Chief Financial Officer Edward Nixon said Statom had benefited from diversification into civil engineering, infrastructure and renewable energy.
Nixon said: “Despite inflationary pressures and evolving regulations, our disciplined cost management and expansion into new sectors have driven growth.
“Our increased turnover and strengthened balance sheet put us in a solid position for the future. Looking forward we remain in a strong position to deliver our secured pipeline including an Energy from Waste facility, major infrastructure projects and energy transformation facilities for the offshore wind industry.”
CEO Stan Nikudinski highlighted the company’s continued strength in the residential frame market and the successful delivery of key infrastructure projects, including Ardersier Port and the Bristol Airport project .
He said: “Our focus on diversification has reinforced our position in the market while maintaining our core expertise.”
Going forward Statom plans to become a vertically integrated construction business providing in-house services from demolition to M&E fit-out.
This includes the establishment of Slipform Technology Limited, which will provide slipform services across the UK and Europe, alongside Apex Core Engineering Limited, an internal engineering and design business. Additionally, Flush-Line continues to offer expertise in drainage solutions, maintenance, and tankers.
Group Chairman Thomas Brown announced the group’s investment in operational infrastructure, including a new 16 acre facility in Barking to centralise plant and machinery while a planning application is in for precast sheds and prefabrication facilities to strengthen Statom’s off-site manufacturing capacity in London and the Southeast.
Statom Group North has also expanded, acquiring a 16,000 sq ft office in Glasgow, further solidifying its presence in Scotland and Northern England.
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