Turnover bounced back to 拢175m in 2019, latest accounts show, and the 2020 order book is worth more than 拢190m.
Tolent鈥檚 2019 turnover was up 30% on 2018鈥檚 拢133m; but it had been 拢178m in 2017.
However, profits were hit by the closure of southern England operations, which contributed 拢28m to turnover last year but damaged the bottom line.
Tolent made a pre-tax loss of 拢859,000 in 2019 (2018: 拢1.8m profit). Excluding the losses in the south of England, the continuing operations made a 拢3.5m profit before tax.
The contractor currently has 45 live sites across the country, including an 拢11m civils project for propane storage in Teesside, the 拢26m Hadrian鈥檚 Tower in Newcastle, a 拢23m build-to-rent development in Leeds and the 拢84m Milburngate site in Durham.
It is also seeing steady growth in the residential market, particularly with social housing.
Including work completed this year and secured work into 2023, Tolent is set to deliver around 3,000 new homes covering both the private and public sector across the northeast and Yorkshire. It鈥檚 landmark 拢120m South Seaham Garden Village development will also start work next year, with 1,500 new homes and facilities.
The 拢190m order book includes 拢15m worth of work to reclad hospitals and student accommodation buildings.
However, last year Tolent decided to close its operations in the south of England. Chief executive Andy McLeod explained:聽 鈥淭he region had been under review for some time as a result of disappointing performances over a number of years and whilst the decision to close the business has significantly impacted our financial performance in 2019, this will ultimately benefit the wider business as it now allows us to build upon our already outstanding reputation within the northeast and Yorkshire and continue to explore new opportunities and new locations to grow.鈥�
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