EE Smith resumes growth trajectory

EE Smith resumes growth trajectory

EE Smith resumes growth trajectory

The Directors – Commercial Director Richard Hollingsworth, Production Director John Richardson, Managing Director Neil Bottrill, Financial Director Neil Simpson and Contracts Director Dan Cashmore
The Directors – Commercial Director Richard Hollingsworth, Production Director John Richardson, Managing Director Neil Bottrill, Financial Director Neil Simpson and Contracts Director Dan Cashmore

EE Smith Contracts, which celebrates its 125th anniversary this year, recorded a 31% increase in turnover to £61.5m for the year to 31 March 2022.

Pre-tax profit for the year was £1.2 million, following a loss of £22,000 the previous year.

The company has seen strong growth over the past decade, with the exception of the year of the first national lockdown and site closures. It generated around £20m in the year to March 2015, £40m in 2017, £50m in 2020, dropping to £47m in the year affected by Covid until March 2021 and now up to £60m in most recent accounts.

Recent growth is the result of work on such prestigious developments as The Peninsula London hotel overlooking Hyde Park Corner and the completion of 15 super-premium apartments in Knightsbridge, London.

EE Smith Contracts started the current financial year with £60million of work secured and 285 staff, including 35 apprentices taken on since the Covid-19 outbreak.

Chief Financial Officer Neil Simpson said: “The annual results to March 2022 have generated the highest annual revenue in the company’s history, which is due to hard work and unwavering commitment. of our staff.

“We are in advanced discussions on a few contracts in the high-end residential and hotel markets, which remain stable despite a difficult economic context.

“All of this is the best possible way for the company to celebrate its 125-year history, a history built on training and developing employees and investing in cutting-edge technology, as well as delivering a top notch craftsmanship.

“EE Smith Contracts has a long history of training young people and a significant number of our current employees are former apprentices who have stayed with us because it is a family environment. We have established excellent links with London colleges and have 30 apprentices at our London sites learning from some of the best craftsmen in the country. The London job market is very dynamic and we are also building the EE Smith Contracts family environment at these sites to retain our apprentices and provide a pathway for their careers.

“Overall, having assessed the cost of the pandemic, which we believe has cost the business £3.8million, reaching a stage where profits are now healthier than before covid is a testament to the quality of our work and the high caliber of our staff. .”

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