{"id":6280,"date":"2025-06-30T07:46:53","date_gmt":"2025-06-30T07:46:53","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=6280"},"modified":"2025-06-30T07:46:53","modified_gmt":"2025-06-30T07:46:53","slug":"neilcott-on-fast-track-to-debt-free-employee-ownership","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/neilcott-on-fast-track-to-debt-free-employee-ownership\/","title":{"rendered":"Neilcott on fast-track to debt-free employee ownership"},"content":{"rendered":"

South east contractor Neilcott Construction is close to clearing a \u00a322.5m loan five years ahead of schedule after a bumper profit year.<\/p>\n

The loan was taken out to help fund the \u00a340m employee ownership buyout in 2021. Now just \u00a31.5m remains outstanding, with the firm aiming to wipe it out by autumn \u2013 halving the original 10-year repayment timeline.<\/p>\n

Latest results for 2024 show pre-tax profit more than doubled to \u00a37m on turnover slightly down at \u00a3133m. Operating margin surged from 2.6% to 7%, while year-end cash rose nearly a third to \u00a323m.<\/p>\n

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The improved performance allowed Neilcott to pay a \u00a35.4m capital contribution to its Employee Ownership Trust and distribute \u00a3300,000 in profit share to staff.<\/p>\n

Managing director David Huxley said: \u201cThese results enabled the company to continue to accelerate the capital contributions to the Neilcott Employee Ownership Trust.\u201d<\/p>\n

He added: \u201cWe are proud to be a financially secure, employee-owned business that continues to invest in our workforce, our infrastructure, and our future.\u201d<\/p>\n

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The Orpington-based firm, which employs 177 staff, has since made \u00a37.5m in early capital repayments, slashing interest costs.<\/p>\n

Looking ahead, Neilcott expects \u201cmanaged growth\u201d supported by a healthy pipeline.<\/p>\n

This year Neilcott is forecasting turnover increasing to \u00a3150m with an operating profit of around \u00a313m. Its work pipeline remains strong into 2026 with over \u00a380m already secured.<\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/wpXgrKW<\/p>\n","protected":false},"excerpt":{"rendered":"

South east contractor Neilcott Construction is close to clearing a \u00a322.5m loan five years ahead of schedule after a bumper profit year. The loan was taken out to help fund the \u00a340m employee ownership buyout in 2021. Now just \u00a31.5m remains outstanding, with the firm aiming to wipe it out by autumn \u2013 halving the […]<\/p>\n","protected":false},"author":1,"featured_media":156,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-6280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/6280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=6280"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/6280\/revisions"}],"predecessor-version":[{"id":6281,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/6280\/revisions\/6281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/151"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=6280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=6280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=6280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}