RED Construction Group has delivered a strong year of growth nearly doubling turnover to £115m.
In the year to April 2024, RED doubled pretax profit to £2m maintaining profit margin at 1.7%.
Based on a strong order book, RED is forecasting another year of controlled growth that should generate revenues of over £130m to April 2025.
The firm, which operates from business centres in London and the south west, delivers a mix of projects ranging up to £50m.
Its special projects arm targetting projects under £10m in value has successfully secured a pipeline of ‘cut and carve’ projects for the growing office overhall market in the capital.
Graham Sturge, CEO at RED Construction Group, said: “12 months ago, we predicted 2023/24 would be a huge milestone for the business, and I’m proud that we’ve met that and more, with a turnover comfortably over the £100m mark for the first time.
“We’ve also sustained a robust profit margin, an important element of the stable, considered growth we want to achieve year-on-year.
“Whilst we celebrate this, we’re also very conscious of the volatility of our market.
“Our focus for the coming year remains the same – risk management, stable growth, and supporting our supply chain partners, that are often hit hard by that volatility and rarely spoken about publicly.”
RED Construction Group is currently delivering a portfolio of works across hospitality, commercial, office, and student accommodation sectors.
Projects include the landmark 130,000 sq ft office scheme in the heart of Westminster for Tellon Capital, Berkeley Estate Asset Management’s comprehensive refurbishment of 8 Lancelot Place, a live office building in Knightsbridge, and significant works to Manhattan Loft’s iconic St Pancras Renaissance Hotel.
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