Following a record year in 2013/14 where turnover increased by over 50% to £27 million, Fitzgerald Contractors has continued its impressive financial performance. The mid-year results for 2014/15 which were released today shows that turnover in the six month period to September 2014 reached nearly £19m an increase of nearly 75% on the same period last year which is 30% ahead of budget. Profit on ordinary activities before taxation has more than doubled to £775,000.
The period has seen significant awards from house builders, specifically CALA Homes for the Wychbury Fields site in Hagley, where Fitzgerald will provide a ‘single point of delivery’ for the highways works, managing the complex process of traffic management and approvals, and taking on the role of Principle Contractor.
Other contracts reflect the varied Client base of Fitzgerald with awards from Local Authorities including Dudley, Telford and Wrekin, Sandwell, Wolverhampton and Birmingham; Private Clients such as Jaguar Land Rover and Aldi; and Main Contractors including ISG, Sir Robert McAlpine, Eurovia and BAM.
Nick Coley, Managing Director and principle shareholder, said ‘Our exceptional mid-year results exceed our budgeted targets by 30% and are an ongoing testament to the hard work and efforts of all our staff. We are forecasting a turnover in excess of £33m in 2014/15 which will be a growth of over 80% since the Management Buyout in May 2013.’
‘The service we offer to our Clients remains the key to our success; we believe the service we offer in being a single point of delivery for Highways Works, delivered by directly employed labour, is unique. Our expertise is valued by our Clients within the Housing Sector, Highways Agency, Local Authorities, Private Clients and Main Contractors, and their support since the buyout has been outstanding’.