Profits soar at Caddick Group in “rude health”

Grant Prior 12 months ago

Caddick Group saw profits jump by more than 40% as it posted latest results for the year ending August 2022.

Paul Dodsworth, Managing Director of Caddick Construction; Johnny Caddick, Caddick Group; Myles Hartley, MD of Caddick Developments and Group ESG

Across the group – which includes Moda Living, Caddick Developments and Caddick Construction – pre-tax profits hit £58m from a turnover up 28% to £492m.

Caddick continues to increase its long-term development pipeline and remains focused on a twin property strategy of Living and Industrial/Logistics.

Johnny Caddick, Caddick Group, said: “Our focus on Living and logistics has proven its resilience and strength through recent years, putting Caddick Group in a strong financial position.

“Our work to secure a market leading pipeline of opportunities across our sectors has given us the headroom to invest for our future and secure a bright outlook for the Group.

“We have a national geographical reach, with projects now on site in the North of England, Scotland, the Midlands and the South.

“As a privately owned business, we have the flexibility to take decisions quickly and react at speed to evolving market conditions.

“Our expanding team has worked tirelessly to ensure we are in rude health, giving us the confidence to invest in our future, which is reflected in an expanding pipeline with a GDV approaching £10bn.”

Paul Dodsworth, Managing Director of Caddick Construction added: “We’ve had a really strong year, one in which we’ve grown our portfolio, our team and our capabilities.

“There have undoubtedly been some challenges over the period, but our resilience and agility have enabled us to respond quickly to changes in the market while supporting our valued clients and supply-chain partners along the way.

“I joined Caddick Construction last summer and I am very proud to lead a business that has worked tirelessly to earn its strong reputation in the industry.

“Our strategy is fully focussed on continuing our sustainable growth; building a diverse work pipeline across our core sectors and ensuring we have a balanced portfolio of public and private sector projects.

“Underpinning this is our continued investment in our teams, our expertise and the exceptional capabilities of our in-house services, Caddick Civil Engineering and CCL Facades.”