Private equity-backed utility and infrastructure contractor Network Plus Services has pushed margins higher on the back of rising energy and water workloads.
Adjusted EBITDA jumped 20% to £43m in the year to 30 March 2025, lifting margins from 6.8% to 7.4%.
But onerous contract and restructuring charges impacted the bottom line with pre-tax profit dropping to £25m from £32m in the prior year.
Turnover grew 9% to £585m, supported by increased volumes on existing frameworks and new contract wins.
The group’s expansion into smart metering, vegetation management through the AC Landscapes acquisition, and the launch of a district heating division all contributed to broadening its offer.
Headcount at the Manchester-based business also increased to just 2,400 staff.
Network Plus said that future growth would be underpinned by Ofwat’s AMP8 settlement allowing a 70% uplift in water sector spend and acceleration low-carbon infrastructure programmes.
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