Seddon reports 33% profit increase
The Bolton-based group’s construction arm saw the largest increase in profit before tax, going from £200,000 in 2023 to £2.3m in 2024, according to its latest financial filing.
Seddon Group, as a whole, saw profit before tax increase by 33% for the year ending 31 December 2024. The group’s profit went from £4.6m in 2023 to £6.1m. Post taxation, the profit figures were £4.5m, £1m higher than the year before.
However, turnover fell to £144.4m from £160.7m. Seddon cited the impromptu general election in 2024 and subsequent pausing of public sector projects as the reason for the decrease.
However, that’s not all bad news.
“These delays actually have a positive knock-on effect to the prospects for 2025 with a number of these projects now having been secured and to the extent that over 70% of our order book was already in contract at the commencement of 2025,” the company states the report.
The filing also delved into the group’s carbon emissions, social value, and employee development strategies.
Among the highlights:
- The completion of a full refurbishment of the Seddon head office in Bolton
- A companywide social return on investment of £5.9m
- More than 3,000 hours of volunteering conducted
- 40% of new apprentices recruited were female – a record intake for the group
- More than 775 hours of training delivered to staff
- 100% renewable energy now used across offices and sites
- Developed carbon reduction plan
Current Seddon projects in the North West include the £1.6m refurbishment of Bromborough Community Fire Station and Hive Homes’ £22m housing development in Radcliffe.
