Fit-out specialist 8build has bounced back into profit after shifting its focus to faster-moving, fixed-price contracts and securing a series of high-profile airport jobs.
The London-based contractor delivered a £2.2m pre-tax profit for the year to 31 March 2025, swinging from a £1.2m loss last time out.
Turnover jumped just over a third to £167m as the business moved away from long, drawn-out PCSA deals towards lump-sum and design-and-build contracts that convert to site more quickly.
Average operating margins improved from 0.6% but still remained tight at 1%.
Cash at bank also climbed 38% to £19m with no debt on the balance sheet.
Chief executive Nick Bellamy said tighter bid discipline, leaner overheads and a record secured pipeline had set the group up for another strong year.
“The markets, in our experience, have moved away from the PCSA contracts and moved to more fixed price lump sum and fixed price design and build contracts.
“This has reduced the time period from enquiry to construction in comparison to the elongated PCSA periods. This has helped bolster our revenue for the period. ”
8build’s growth was also powered by a surge in its aviation business. The contractor has long worked with London City Airport but expanded this year with new wins at Heathrow and Gatwick.
Bellamy said the firm expected another strong performance this year with £157m of turnover already secured for 2025/26 and a £165m forward order book.
from Construction Enquirer https://ift.tt/Thif3ag