Tide Construction鈥檚 turnover for the year to 31st August 2022 was up 6% 拢177.5m (2021: 拢166.9m). Pre-tax profit was up 2% to 拢11.1m (2021: 拢10.9m). At the year-end, the company鈥檚 net assets were 拢74.6m (2021: 拢64.9m).
Tide Construction specialises in high-rise residential schemes using modular construction techniques, in tandem with sister company Vision Modular Systems. Its Greenford Quay scheme in west London is one of the UK鈥檚 largest build-to-rent schemes, with more than 2,000 flats.
Owner-director John Fleming wrote in the company鈥檚 latest annual report and accounts, filed this week: 鈥淐ontinuing price inflation in materials and subcontractor costs reduced margins in our contracting operations but project management work helped us to increase profits year on year.聽
鈥淭he directors remain focused on strengthening the business by embracing the revolution taking place in offsite construction in addition to the development of modular technology. Despite the challenging macroeconomic environment, Tide continues to deliver strategic projects on time and within budget for our clients.鈥�
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