13th July 2016
The Durham-based firm, which has offices in Yorkshire, Cumbria and Scotland, generated turnover of £275m – similar to 2014 – in the year to the end of December, 2015. Profit before tax was down at £8.6m, while cash balance was £29m.Brian Manning, CEO, said: “This is a good performance and a credit to the hard working employees and supply chain partners.
“2015 was always anticipated as a year of consolidation in terms of turnover given the growth in 2014. Profit has been affected by a number of factors including; market conditions, investments in business outside the North East and costs ahead of a major IT project.”
Esh Build completed a number of exciting projects during the year, including;
- £5.4m Thirteen headquarters in Stockton
- £7.4m STEM Skills Centre at Middlesbrough College
- £3.3m Boho Five in Middlesbrough
- £5.4m Fusion Hive, Stockton Innovation Centre
- £2.2m Orion Building for Teesside University
- £1.3m Excelsior Academy in Newcastle
The Group, which employs more than 1,200 people across the North and Scotland, won significant work in 2015 including a ten-year contract to carry out work on Northumbrian Water’s water and wastewater networks. The Group’s Esh Property Services business was also appointed to the four year Broadacres Framework, a £160m scheme which involves the construction of 1,600 homes in the North East and Yorkshire over four years.
Development performance with Esh Homes and Esh Developments improved in 2015, as planning permission was secured for 450 houses and retail development at Philadelphia in Sunderland. Work on this site will start in 2016 and provide revenues from 2017 onwards. The Esh share scheme, which includes 180 employees, has delivered significant gains to date. Further rewards for management and employees are also in place to recognise hard work and performance. Shareholders were also told of work carried out by Esh Charitable Trust and Esh Added Value – the two supporting parts of Esh Group’s community work.
During the year the platforms supported the national award winning Building My Skills initiative which introduces school children, sixth form and university students to employability skills and leads them into work experience, apprenticeship and job opportunities. The scheme involves 103 business partners, 71 schools and over 7000 students.
In summarising Esh Group’s performance over the year, Brian Manning added:
The construction industry is showing signs of sustained recovery and with our strong cash position, Esh Group is well positioned to lead the new opportunities with our partners once areas such as devolution and the EU are more settled.
Esh Communities – Esh Group’s financial support platform for community projects – delivered more than £40,000 in grants to 39 projects, including 12 in the North East. The business aims to increased grants delivered to £50,000 across 50 projects in 2016.
Throughout the year Esh Group’s ‘Get into STEM’ kits – aimed at inspiring Key Stage 1 pupils with science, technology, engineering and mathematics subjects – were provided free to around eight schools each month.