Fitzpatrick, one of the UK’s largest privately owned contractors, continued its record of strong growth last year with a turnover rise of 35% to £136m. This follows a 43% increase in 1998. It increased pre-tax profit 73% to £4.6m for the year to 31 December 1999.
Under managing director Jim Elders, Fitzpatrick has expanded its involvement in building activities beyond its traditional core of civil engineering work.
In his chairman’s statement, Patrick Fitzpatrick said the company’s increased building, rail and airfield work had “filled the void” left by the drop in spending on roads.
He added that the company intended to “throttle back” turnover slightly this year. As well as diversifying the type of work undertaken, the company, which employs about 300 staff, has also been expanding out of its south-eastern base into the South-west.
Fitzpatrick is also planning to acquire companies that provide total ground solutions to help it bid for brownfield remediation and building work.