Raft of work in waste-to-energy helps firm turn around its fortunes
North-west-based Clugston Construction has returned to profit, as turnover jumped a third from £54m to £74m in the year ended 31 January 2012.
Three major waste-to-energy plant wins helped the firm rebound from a loss of almost £4m last year to a pre-tax profit of £2.5m.
Clugston is delivering the projects in Lincolnshire, Staffordshire and Oxfordshire with joint venture partner Constructions Industrielles de la Méditerranée (CINIM).
The contractor revealed it is also at preferred bidder stage on three further waste-to-energy schemes.
Clugston also recently won Cleethorpes Academy, its first scheme under the national partnership for schools framework.
Steve Radcliffe, Clugston Construction’s managing director, said: “We are extremely pleased with these results, which we are aware run counter to the general construction market place as it still remains depressed.
“The results have been achieved thanks to a lot of hard work by our entire team and sticking to our strategy of developing a responsive value for money service from our regional offices, whilst developing our expertise in the growing waste reduction and renewables sector.”