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Winvic turnover tops 1bn

Winvic is setting its sights on new infrastructure orders after smashing through the 1bn mark for turnover.

Its newly released accounts for 12 months ended 31 January 2022 showed its revenue rose from 659m to at least one 1.02bn through the year.

Winvic’s pre-tax profit risen to 15.6m, up from 13.9m in the last year.

Bulging revenues were related to a loyal clientele, with 90 % of income produced from repeat business.

The contractor and build-to-rent developer said it had targeted infrastructure, strategic rail freight and public sector frameworks during 2021, managing to secure places on two highways frameworks and two major strategic freight interchanges.

Later on, it said that it could target more public sector framework opportunities in addition to strengthen its contract awards from clients, such as for example National Highways, Network Rail and the surroundings Agency.

To do this, it really is currently upgrading its accreditations and upskilling its workforce, it added. The Northampton-headquartered company also said it had been seeking to join the Railway Industry Supplier Qualification Scheme, which may let it bid for major rail frameworks and make an application for principal contractor licenses.

Regardless of the rising turnover, Winvic chairman Simon Girardier said, in a statement given the accounts, that soaring inflation is a concern.

He said: “The unprecedented degrees of material price increases have already been more challenging to control, particularly if balancing this with this commitment to supply our clients with price certainty.

“Whilst we have been now seeing this stabilise in steel related products, during the last 12 months the unpredictable price increases in aggregates and ready mixed concrete have impacted on our margins.”

The business also boosted its net cash, from 79m to 126m.

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