Esh Group to push north after solid 2013 results
North East construction and property firm Esh Group is planning to expand across the north west and Scotland after strong profit growth.
The firm unveiled avery strong set of results for the year ending December 2013 to its shareholders, many of whom are employees, at the firm’s Annual Shareholders Meeting at the Emirates Durham ICG, Chester–le-Street yesterday evening.
Turnover increased by 10 per cent to £192.5 million with profit before tax (PBT) at £3.2m, results which demonstrated a significant improvement from equivalent PBT of £0.6m the previous year. Cash reserves held at the year-end were £27.6m.
Headquartered in Durham, Esh Group now has extensive operations throughout the north of England and southern Scotland. The North East region operates from Cramlington in Northumberland and Newton Aycliffe and Bowburn in County Durham.
Yorkshire and Humberside operations are managed from offices at Thorpe Park near Leeds and, following the acquisition of Border Construction in early 2014 (now rebranded Esh Border Construction) the firm has offices in Carlisle and Kendal in Cumbria and Earlston in Scotland.
With 1,100 people now directly employed throughout these regions, Esh Group offers multi-disciplinary construction activities including civil engineering, commercial/public build, house building, facilities management, fencing & landscaping, plumbing, plant hire, specialist brownfield remediation and training services.
The Group now comprises the following brands:
Esh Group is a developer of both commercial and residential properties. It is continuing to expand its joint venture with Swedish partner, Sodra, with which it is producing zero energy housing.
Brian Manning, chief executive of Esh Group, said: “This time last year we reported Esh Group to be in really good shape and we have continued to show this is the case. Our diverse product range delivers quality through brands which are well-recognised across the North East such as Lumsden & Carroll, Esh Property Services, Esh Build and Deerness Fencing & Landscaping all of which have and continue to serve us well.
“Our aim is now to replicate the breadth and quality of these services across the greater North and Scotland from our existing bases in Yorkshire and Cumbria and those newly acquired through the addition of Esh Border Construction to the Group.
“We have now been working beyond the North East for seven years and this year we have strengthened our presence in other regions by investing in regional structures to ensure our delivery is consistent. This is a significant undertaking which has of course presented new challenges – all of which are well within our capabilities.
“As part of our investment in regional structures we will be carrying out a comprehensive review prior to updating our IT systems in order that we are well-equipped to deliver the next phase of our growth.”
Austin Donohoe, Chairman of Esh Group added: “It is very pleasing to report on a successful year. Esh Group is focussed on building sustainability with scalability and there is a sense that the business is moving into a new phase of maturity.
“We are, therefore, confident that, despite some challenges, our solid foundations combined with our robust strategic plans for growth will enable Esh Group to continue to consolidate its position and flourish for the benefit of our customers, staff and shareholders and for the communities in which we work.”