Brims Construction has celebrated a landmark year with significant growth in both profits and workforce. The Sunderland-based company’s latest accounts reveal impressive financial results, highlighting the success of their Teesside division following the collapse of a former contractor.
Record Financial Performance
The Sunderland company reported a 46% increase in turnover, reaching a record £58.3 million. Operating profit more than doubled, rising from £1.3 million to £2.7 million. This remarkable financial performance was supported by a strong balance sheet, a healthy order book, and excellent supply chain and client relationships.
The firm managed to achieve robust margins and an increase in turnover despite challenges such as material and skilled labour shortages, as well as price inflation during 2023. Financial director Ian Clift expressed satisfaction with the results, noting that the challenges have now stabilised.
Teesside Division’s Contribution
The acquisition of the Teesside division of the collapsed contractor Tolent played a vital role in Brims’ success. This strategic move not only saved numerous jobs but also contributed significantly to the company’s growth. The Teesside division performed exceptionally well, surpassing budgeted profit and turnover.
The integration of the Teesside office has been smooth, establishing a strong client base and generating repeat business. This division added approximately £19 million to the company’s turnover and is expected to continue growing.
High-Profile Projects
Brims completed several high-profile projects in the region. These included a £3.4 million contract for the new Marks and Spencer at Washington and a new £200,000 eye health clinic in North Ormesby.
Additionally, the company undertook three new retail units at the Gateshead Metrocentre under a £6.3 million contract, and £1 million of refurbishment and conversion works for Sunderland University.
Other notable projects included the Ad Gefrin Anglo-Saxon Museum and Whisky Distillery in Wooler, Northumberland, and the new Wickes store in Durham. The refurbishment of the security area at Newcastle International Airport, valued at £3.6 million, was another significant achievement.
Future Outlook
Looking ahead, Brims Construction remains optimistic about future growth. Three months after the year-end, secured sales stood at £55.6 million, the company’s strongest performance to date. This provides confidence in a further increase in turnover for the next financial year.
Director Richard Wood highlighted the company’s careful approach to selecting projects, which has contributed to their success. The company continues to receive a high number of quality tenders, which is encouraging for future opportunities.
Key to Success: Staff and Workforce
Brims Construction’s workforce increased significantly, from 95 to 205 employees. The professionalism and performance of the staff have been crucial to meeting client demands and expectations, driving the business forward.
The company’s commitment to its employees is evident in their focus on maintaining a talented and dedicated workforce. This has been a key factor in their continued success and growth.
Community and Industry Impact
Brims Construction’s success has had a positive impact on the community and the construction industry in the North East. Their projects have created jobs, supported local businesses, and contributed to regional development.
The company’s involvement in high-profile and community-centric projects demonstrates their commitment to making a positive difference. This aligns with their overall strategy of delivering quality results while fostering strong industry relationships.
Looking Forward
With a healthy order book and many opportunities in various sectors, Brims Construction anticipates further growth in turnover and profits. The company is poised for another exciting year, continuing to build on their success and reputation in the industry.
Brims Construction has achieved remarkable success over the past year, doubling both its profits and workforce. The company’s strategic acquisitions, high-profile projects, and dedicated staff have been key to this achievement.
With a promising future outlook and a strong foundation, Brims is well-positioned to continue its growth trajectory. The company’s focus on quality, client relationships, and community impact will remain central to its strategy moving forward.
