Cladding contractor sees turnover rises 11% on back of high-rise office market demand
London’s high-rise construction boom has helped lift turnover at Lakesmere by 11% to £95.6m for the year ending January 2015.
The building envelope and façade specialist has reported strong demand in the major glass façades market due to the number of new projects in London and other UK cities.
Group pre-tax profit grew by 23% from £1.99m to £2.44m, and the firm said it expected turnover to exceed £100m in 2016 and £130m in 2017.
Commenting on the results Lakesmere chief executive Mark Davey said: “The Lakesmere Group has had another good trading year. We recorded our highest ever level of income, took further actions to expand our presence overseas and continued to invest in our manufacturing and infrastructure support systems to manage growth in all areas of the business.”
“We continue to adopt a prudent approach to our work and we continue to maintain strong cash reserves to sustain the business and fund investment for growth. This strategy has seen positive returns across the business and expansion into new markets at home and overseas.”