A North Tyneside contractor is on track to almost double its turnover while creating around eight new jobs, following a string of contract wins.
Established in 1967 as a family company, it has since focused on specialist contracting work, with recent wins including a five-year project to upgrade residential properties for the housing association Bernicia; several new build housing schemes in the social housing sector; green agenda work for British Gas; and construction work with Newcastle University within a long-term framework agreement.
The latest successes are expected to increase the company’s £8m turnover to around £15m in 2014, when more staff will be taken on.
Managing director Ken Parkin said: “These new contracts are great wins for the company, cementing our position as a key player in the construction sector in the region and providing an ongoing pipeline of work for the next five years.
“While it is a highly competitive industry, the new long-term work from such well-known organisations is a huge vote of confidence in Turney Wylde, and one that we’re aiming to translate into continued growth in the coming year.”
He added that financial support from Lloyds Bank Commercial Banking had been vital in giving the firm the capacity to take on the contracts.
Mike Gascoigne, senior relationship director for Lloyds Bank Commercial Banking, said: “Turney Wylde is a perfect example of a firm that is continuing to grow in a highly competitive sector by providing a high quality service to customers. We have a wide range of support that we can offer to businesses looking to expand, including lending through the Funding for Lending Scheme, through which we offer SMEs a discount of 1% for the life of their loans.”