Former Interserve subsidiary posts turnover of £542m for 2024
Tilbury Douglas continued its recovery last year with turnover up by 7% to £542m and profit up by 30% to £16.6m.
The former Interserve subsidiary, which became a standalone business three years ago, had made a pre-tax loss of £94m in 2022 before rebounding to a £12.9m profit the following year.
In its latest accounts for the year to 21 December 2024, the firm said its performance had been “again outstanding” with the group remaining debt free and finishing the year with cash of £50.7m, up from £8.4m in 2023.
It said it had secured more than £637m of new contracts and orders last year, amassing a forward order book which reached £1.32bn in March 2025.
The firm’s building and fit out arms have been the primary drivers of growth, with 90% of revenue coming from long-term frameworks for repeat clients.
The accounts come after the appointment of Craig Tatton as chief executive in November last year, replacing Paul Gandy.
Gandy, who joined from Kier in 2019 and led a restructure of the firm after its separation from Interserve, is still a board advisor at Tilbury Douglas and is senior vice president of the Chartered Institute of Building.
Interserve went into administration and was formally wound up in 2022, after pushing into support services and a disastrous foray into the energy-from-waste sector.
No comments yet