Success despite industry challenges

Construction firm Stepnell has reported profits of more than £1 million despite “challenging” industry conditions.

The firm’s progress has been attributed to its focus on continual improvement.

This includes internal procedures, such as project programme controls on site for greater financial and commercial returns, while it has also invested in its team and offices.

Stepnell has also already secured 80% of its 2023/24 planned revenue budget, citing frameworks and repeat work as the main sources of procurement.

Managing director Tom Wakeford said: “Our performance reflects an ongoing commitment to performance improvement, and we are pleased with these results especially given the challenging circumstances of project budgets being squeezed by cost increases from rising inflation, an energy crisis, and shortages right across the industry, which is slowing the progress of planned projects.

“Moving forward, we have a solid foundation to keep building on our success.”