Business says workloads staying strong into new year
John F Hunt saw turnover and profit jump last year with the firm expecting workloads to remain buoyant in 2024.
The demolition specialist said income was up 44% to £157m in the year to March 2023 with pre-tax profit up 73% to £9.5m.
Revenue at its demolition arm was up 15% to £67m with the firm, which is carrying out work on a 1980s office block scheme in Bishopsgate in the City of London that is set to be revamped by Multiplex, saying it had a “significant amount of workload heading into 2023/24”.
Turnover at its biggest arm, regeneration, doubled to £79m with Hunt recently bringing in the former boss of Buckingham’s HS2 division to head up the contracting arm of the regeneration business.
In the accounts, which were signed off just before Christmas, the firm said it had net cash of £33.7m, up from £22m last time. It added that in the current year, it was expecting turnover and margins to be similar to the 2023 numbers.
Meanwhile, its generator hire business, which files its accounts as John F Hunt Power, also posted improved turnover and profit.
The business said income was up 52% to £47m in the year to March 2023 while pre-tax profit jumped 18% to £6m.