Construction firm reports ‘improved performance’

Construction company Stepnell has reported profits of in excess of £1 millon following an ‘improved performance across a range of key indicators’.

The firm, which also saw turnover rise by more than 15%, has attributed the strong 2023/24 financial year to a continued focus on overall business strategy and operational performance.

Stepnell has already secured 90% of its 2024/25 planned revenue budget – a 10% increase from last year – citing frameworks and repeat business as the principal sources of its workload.

Managing director Tom Wakeford said: “Our latest performance has seen us consolidate our position through improved performance across a range of key indicators.

“The increase in turnover is a demonstration of planned growth in targeted areas and progress across the business, despite the prevailing market challenges.

“We operate with a healthy project pipeline, our property portfolio remains strong, and we continue to secure placement on key industry public sector frameworks.

“This facilitates continual improvement of our offering to our clients and the supply chain we work with.”