Expanding building maintenance specialist Cardo Group has posted a strong set of results with profits and turnover on the up.
Latest numbers for the year to 28 February 2025 show turnover increasing to £145.2m from £83.6m last time as pre-tax profits jumped to £5m from £1.1m.
The strong financial performance came despite absorbing one-off costs associated with a string of acquisitions, integration and investing in its systems.
During the financial year, acquisitions of A & N Lewis and Tim O’Brien in Wales, and Heatcare Oil & Gas and Rogers & Johnston in Scotland were completed.
Founded in 2012 by CEO Liam Bevan, private-equity backed Cardo originated as LCB Group in South Wales and has since grown into a leading provider of housing and public-sector building services across the UK and Ireland.
Bevan said: “This has been another year of strong performance, supported by the commitment of our teams and the trust our clients and residents place in us to deliver reliable, high-quality services across every community we serve.
“We continue to expand our footprint and capabilities across the UK and Ireland, reinforcing our position as a trusted partner.
“We have invested significantly in systems and integration to support scalable, sustainable growth. Despite these investments, our financial performance remains strong and aligned with our long-term strategy.”
Since the financial year-end, Cardo has completed three further acquisitions:
- April 2025: Acquisition of Breyer Group’s roofing division via an asset purchase agreement, alongside assuming responsibility for responsive repairs and maintenance services on behalf of the Royal Borough of Kingston upon Thames.
- June 2025: Acquisition of SERS Energy Solutions, an established energy-efficiency contractor with more than 30 years’ experience supporting local authorities and housing providers.
- September 2025: Acquisition of CTS, establishing operations in Northern Ireland and the Republic of Ireland. CTS delivers maintenance services to over 65,000 properties.
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