Construction company Brims Construction has posted record results following a “challenging” year, with turnover topping £20m for the first time in its eight year history.
As well as posting a record turnover figure of £22m – a 64% rise year-on-year – the Sunderland-based company saw pre-tax profits rise by a similar margin, to £1,003,206 for the 12 months ended March 2014.
With a host of major contract wins under its belt and continued improved performance, Brims is now looking at a prospective forward order book of over £43m, demonstrating the considerable confidence in the company aligned with encouraging evidence of recovering construction markets.
The firm was established in 2006 by Ian Clift and brothers Jason and Richard Wood and Ian Baggett, owner of Adderstone Group, rising from the ashes of the original Brims which was founded in Newcastle in 1882 before becoming part of the Swan Hunter group and then being wound-up in the early 1990s.
Commercial director Mr Clift said: “While it has been another challenging year for the construction industry we have been successful in identifying work that generates margin and has a suitable risk profile.
“From around March this year we have seen a marked improvement in the number of quality tenders available, which is a very positive sign for the industry, and we continue to win a good share of this business and maintain a healthy pipeline of future work.
“We are pleased to report that it has been another successful year for the company with revenues and margin once again above our forecasts.”
Projects completed by Brims during the 12-month period included the £3m refurbishment of the Pearl Assurance House offices in Newcastle, the eight-storey office building has since been rebranded as The Pearl.
Other notable projects included the new £3.2m Derwentwater Mews care facility in Gateshead, the new £3.5m Future Technology Centre for Gateshead College and the £1.6m Horsley Hill Community Centre for South Tyneside Council in South Shields.
Work has also just been completed on the £1.9m ‘Home from Home’ for the Sick Children’s Trust and Children’s Heart Unit Fund, at Newcastle’s Freeman Hospital, and Union Square, the £17m student accommodation now open in Ouseburn, Newcastle.
Brims recently moved into larger headquarters located on the Quay West Business Park in Sunderland. The company now has over 50 full-time employees, a marginal increase on the previous year, and includes new business development manager Kim Watson and estimating manager Chris Hunter who were both recruited in the Spring.
The number of operatives employed across Brims’ sites now totals well over 400.
Mr Clift added: “We have a first class business and we are confident about the opportunity to deliver further growth as we enter the next financial year.”