Firm says profit slumped by more than half last year

Modular builder Tide Construction said delayed Gateway 2 approvals helped send income down by more than 40% last year.

The firm, which is behind the country’s tallest modular tower in Croydon, south London, said revenue slumped 41% to £109m in the year to August 2025. Pre-tax profit more than halved from £4.9m to £2.3m.

CR

Tide’s completed 50-storey College Road resi scheme in Croydon

In accounts filed at Companies House, Tide said: “Project start dates on site were deferred pending BSR Gateway 2 approval. While the company has now successfully obtained approval for several key projects, the deferred start dates on site directly impacted the company’s turnover during the year.”

The firm said year-end cash was flat at £12.5m.

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