Seddon Group鈥檚 turnover for the year to December 2023 was 拢160.7m (2022: 拢153.9m) and the group returned to profit, making 拢4.6m. In 2022 it had made a pre-tax loss of 拢13.0m).
The main trading subsidiary, Seddon Construction Ltd, grew turnover by nearly 4% to 拢155.3m (2022: 拢149.8m) and made a pre-tax profit of 拢202,000 (2022: 拢15.0m loss)
鈥淭he challenges of inflation, materials & labour availability and spiralling energy costs that our industry was faced with in 2022 continued to some extent in 2023,鈥� chief executive Jonathan Seddon wrote in the annual report. 鈥淗owever, the group was better equipped and prepared to deal with these challenges and was able to improve its trading position聽 significantly in the year.鈥�
He added: 鈥淭he turnover increase in 2023 is modest given the inflationary environment but this was very much intentional and was a direct result of a high degree of selectivity around projects in order to manage our risk exposure and to focus on opportunities that we are best equipped to deliver.鈥�
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