The Gateshead company has seen a significant rise in profits in the last financial year
North East contractor company Brims Construction has delivered record turnover for the fifth consecutive year of revenue growth, new accounts show.
The Gateshead-based company has released accounts for the year ending March 31 in which turnover rose 9% to £70.01m, while operating profit rose to £4.8m. The company employs 200 people and ended the year with a cash balance of £19.4m.
Brims, which has recently completed its move to its new headquarters at Ravensworth House, in Team Valley, has been involved in a number of high-profile projects in the North East in the last year, including the renovation and fit-out for Barbour, the new sixth form center in Northumberland and the office and factory renovation for the subsea engineering company, SMD. It also delivered work on Newcastle International Airport and a civil engineering project in Wilton, Teesside.
He said the work to be carried out would be at £89.5m by the end of August, providing a strong foundation for next year.
The account says: “Increasingly, clients recognize the value of working with contractors who are strong, reliable and focused on delivery. This is reflected in the continued growth of negotiated and repeat business, which remains the cornerstone of long-term success.
“This strategy is designed to ensure that growth remains sustainable and profitable, projects are cash generative, and sufficient financial resources are kept in the company to support investment and operational requirements in the future.”
Director Richard Wood added: “Our new head office reflects our confidence in the future of Brims and our commitment to the North East. It provides a modern working environment and a strong base to support clients across the region and beyond.
“Behind this result there is a team that really cares about the quality of their work. Knowledge, professionalism and commitment that turn the opportunity into a successful project and the first client into a long-term partner.
“With a secure workload and the capacity to invest in the future, we are poised to build on that success.”
Brims also achieved the Fair Payment Code Bronze Award, recognizing payment of at least 95% of invoices within 60 days and reinforcing its commitment to the supply chain. The company says it will continue to pursue sustainable and profitable growth through carefully selected projects and long-term relationships with clients.
Commercial director Ian Clift said: “We are ambitious for Brims. Our focus is to build a business that clients want to work with again, talented people want to join and suppliers can rely on.”