Profit and revenue up at Eric Wright in 2024
The Lancashire-based construction and development group saw pre-tax profit jump by £7.7m year-on-year, while income increased by almost £60m to £291.8m.
Eric Wright Group put its £13.6m pre-tax profit in 2024 down to “prudent cash management, measured growth, effective risk management, increased investment in people and systems, and heightened market responsiveness”.
The firm’s property portfolio increased in value by £850,000 during the year, further bolstering the group’s balance sheet, while the water, civils, and construction contracting arms all performed well during 2024, according to the company.
During the year, the group – owned by the Eric Wright Charitable Trust – donated £3.6m towards the trust’s work in local communities.
Jeremy Hartley, Eric Wright Group chief executive, said: “Delivering yet another year of strong results demonstrates the significant progress all our teams across the group have continued to make.
“They are a testament to the success of our overarching corporate strategy, which aligns the objectives of our individual divisions to support the group in achieving sustainable, recurring profits and resilient financial stability.
“Central to this strategy is the pursuit of long-term, measured growth through the reinvestment of our trading profits, supported by appropriate external funding. A good example of this is the launch of our new care homes business Wrightcare, beginning with Castlewood in Clitheroe, which is set to open in Autumn 2025.”
