Hounslow-based contractor shifts focus to large residential projects
Contractor Henry Construction increased its turnover by more than £70 million last year.
The Hounslow-based contractor reported turnover of £376.6m for the year to 30 June 2020 up from £300.6m the year before.
It also increased pre-tax profit by 19%, from £10.8m to £12.9m over the same period.
The company, originally specialising in civils, groundworks and reinforced concrete structures, now operates as a main contractor on residential and mixed-residential projects in both the public and private sector.
“Our five-year strategic business plan targets a balanced spread across these sectors, with planned consolidation in the market and steady growth targeted when the right opportunities emerge”, director Mark Henry said.
He added there are signs that inflation could push up the cost of labour and materials “increasing the risks relating to future profitability on long-term contracts where the price has already been agreed.”
Earlier this year Henry Construction secured a contract for a 22-storey scheme called the Arc, in City Road, east London, which includes 16 storeys of flats.
Henry Construction has also been appointed to build 900 homes in two phases for Guinness Partnership as part of a major regeneration scheme in Bromley-by-Bow, east London. In 2019 it was appointed to build two residential schemes for Brick by Brick, Croydon Council’s housing development company.