Within the yr to 31st December 2021 Eric Wright Group made a revenue earlier than tax of £15.1m, up from £9.5m in 2020. Gross revenue elevated from £17.3m to £20.5m.
Turnover throughout the group decreased to £163.9m – down from £204.6m in 2020 and £223.2m in 2019.
Revenue development was attributed to cautious collection of initiatives, centered danger administration inside the contracting companies and the continued development of its residential enterprise.
Eric Wright’s funding property portfolio continued to generate steady web revenue returns and has grown in worth yr on yr to £84.1m, up from £75.9m in 2020, together with acquisitions within the yr of £3.2m.
Group finance director Gill Chadwick stated: “The group advantages from the industrial power offered by the variety of its principal actions. While international financial components proceed to create obstacles, the soundness afforded by this breadth of exercise, along with the sturdy efficiency of our funding property portfolio, supplies the group with resilience and confidence, and ensures we’re properly positioned to capitalise on future alternatives. The outlook for 2022 is extraordinarily constructive with the enterprise properly positioned to generate sustainable, worthwhile development.”
Group managing director Jeremy Hartley added: “The group stays centered on mitigating points round pricing methods and assembly the present unprecedented inflationary pressures as efficiently as attainable. We intention to make sure that we don’t tackle any undue danger and proceed to fastidiously think about and consider the deliverability of each new mission.
“The resilience of our enterprise and expertise and dedication of our individuals has once more offered us with stability throughout one other difficult and unsure yr and we’re very proud to have the ability to report constructive outcomes as soon as once more.”