Industrial and logistics building specialist Glencar saw revenue remain steady last year as a strategy revamp focused on “the right type of work.”
Turnover at the firm for the year to September 30 2024 was £406.8m from £405.9m last time while pre-tax profit improved to £4.8m from £2.2m.
Last year chief executive Eddie McGillycuddy had set a target of 10-20% revenue growth for this financial year.
The firm had a strategy rethink during the period and is now targeting turnover growth of 10% over the next two years.
McGillycuddy said: “We have reevaluated our commercial strategy, ensuring we focus on the right type of work in order to deploy our resources efficiently, whilst effectively managing risk. We look forward to the year ahead with a sense of optimism and confidence with a strong order book and an exceptional team.
“We have already secured a robust order book of £350 million for 2025, with strong project margins and well-established delivery teams. At the same time, our commitment to innovation and the integration of smart processes and technology is accelerating, ensuring that we stay at the forefront of industry trends.
“We are targeting 10% revenue growth in the next financial year, followed by 10% in the following year. This ambitious goal is underpinned by our strategy of cultivating repeat business with our key client base while actively exploring strategic opportunities with new clients and in emerging markets.
“A core focus for us remains the sustained improvement of profit margins, whilst all the while maintaining the high standards of service delivery that our clients expect. We are dedicated to achieving this delicate balance and ensuring that our growth does not compromise the excellence of our services.”
