Steelwork contractor warns in last set of accounts as family-owned business jobs taking longer to get going
The country’s second biggest steelwork contractor improved turnover and profit last year in its final set of accounts filed at Companies House as a family-owned contractor.
Sale Sharks co-owner Simon Orange, the entrepreneur older brother of former Take That singer Jason Orange bought a majority stake in the firm, set up in Bolton in 1888 by its eponymous founder, for an undisclosed sum over the summer.
In its 2024 accounts, Hare said revenue was up one third to £422m with pre-tax profit was up from £6m to £31m. Cash at the bank and in hand at the year-end was £71m, up from £27m last time.
The firm, which has a £40m steel contract on a new tower at 60 Gracechurch Street in the City set to be built by Bovis, said: “The company’s geographic and sector diversification has allowed the business to capitalise on opportunities across a broad spectrum of projects and sectors.”
But the firm warned jobs were taking longe to get going. “The versatility and the diversification that our global footprint provides us will also stand us in good stead as we enter more challenging conditions at the back of 2025 and into 2026.
“There is a large, varied and exciting pipeline of opportunities both in the UK and across our key international markets, but the economic volatility is creating some uncertainty around when projects will start. It is also affecting clients’ willingness to commit to projects any earlier than they have to.”
Hare said the average number of employees at the business topped 2,000 last year with the number up 14% to 2,218.
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