Gateshead contractor Brims Construction has posted record turnover in its fifth consecutive year of revenue growth, according to newly released accounts.
The firm's accounts for the year ending March 31 show turnover rose 9% to £70.01m, while operating profit reached £4.8m. The company employs 200 people and ended the year with cash balances of £19.4m.
High-profile projects and new headquarters
Brims, which recently completed a move to a new headquarters at Ravensworth House on Team Valley, has been involved in several high-profile North East projects over the past year. These include a refurbishment and fit-out for Barbour, a new sixth form centre in Northumberland, and an office and factory refurbishment for subsea engineering company SMD. It also delivered works at Newcastle International Airport and civil engineering projects at Wilton, Teesside.
The company said secured future work stood at £89.5m at the end of August, providing a strong foundation for the year ahead.
Growth strategy and supply chain commitment
The accounts state: "Increasingly, clients recognise the value of partnering with a financially strong, dependable and delivery-focused contractor. This is reflected in the continued growth of negotiated and repeat business, which remains a cornerstone of our long-term success."
"This strategy is designed to ensure that growth remains sustainable and profitable, projects are cash generative, and sufficient financial resources are retained within the company to support future investment and operational requirements."
Director Richard Wood said: "Our new headquarters represents our confidence in the future of Brims and our commitment to the North East. It gives our people a modern working environment and a strong base from which to support clients across the region and beyond."
"Behind these results is a team that really cares about the quality of its work. Their knowledge, professionalism and commitment are what turn opportunities into successful projects and first-time clients into long-term partners."
"With a strong secured workload and the capacity to invest in our future, we are well placed to build on that success."
Awards and future outlook
Brims also achieved the Fair Payment Code Bronze Award, recognising payment of at least 95% of invoices within 60 days and reinforcing its commitment to its supply chain. The company said it would continue to pursue sustainable, 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 on building a business that clients want to work with again, talented people want to join and suppliers can depend on."
