Firm says fixed price jobs helped revenues jump one third
Fit out contractor 8Build has moved back into profit and increased its turnover by 34%.
The firm, in its results for the year to 31 March, reported pre-tax profit of £2.1m, which compares to a loss of £1.5m the previous year. Its turnover increased from £117m to £157m over the same period.
In the accounts filed at Companies House, 8Build said it has moved away from Pre-Construction Services Agreement (PCSA) contracts towards fixed price lump sum and design and build contracts, which has helped secure revenue at an earlier stage in projects.
“This has reduced the time period from enquiry to construction in comparison to the elongated PCSA periods. This has helped bolster our revenue for the period,” it added. A PCSA contract allows a construction company to start work on a project before the main building contract is finalised.
8Build said it has a record forward order book of £165m and is confident of posting its highest ever turnover in 2025/26.
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The group said it significantly increased its aviation work, winning projects at Heathrow and Gatwick airports along with a continuing partnership with City Airport.
8Build’s wins over the past year include a £45m contract to refurbish the 6 More London office development near London Bridge and a £21m deal to work on the refurbishment of Burlington Gardens in Mayfair.
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