Glencar delivers strong profitability growth, alongside significant investments in people, processes and operating platform
January 15th, 2024
Glencar has today announced its latest set of results for the prior 12-month trading period.
The results show an improvement in underlying profitability, alongside a core focus on business consolidation and building a strong platform for the future with significant investments in people, technology, working environment, H&S, processes and the operating platform.
Amongst the highlights include:
- Turnover £406m
- Operating profit £3.5m
- 28 projects completed
- Average contract value £16.9m
- Average headcount 270
The results also show a fully secured and robust order book of projects worth £350m for 2024 across multiple sectors including Industrial & Logistics (I&L), Data Centres, Pharma/Life Sciences, Film/Studios, Fit out and refurbishment.
Speaking about the latest set of results Glencar CEO and Co-founder Eddie McGillycuddy said: “Throughout the last 12 months, our focus has been on consolidation and building a strong platform for the future. This has included substantial investments across the company, most notably in our people, working environments, ESG, processes and our operating platform.
Our commitment to doing the right kind of work has resulted in better delivery and improved profit margins.
A key indicator of our success is the remarkable increase in high levels of repeat business, which now account for 65% of our turnover, compared to 40% last year. This growth is indicative of our dedication to cultivating long-term customer partnerships.
To ensure sustained growth and efficiency, we have undertaken significant ongoing investment in our head office and core business support functions. We have positioned ourselves within the market to take on upcoming opportunities with the availability and mobility of the right people and teams”.
Also commenting Glencar Director and Cofounder Chris Gleave also said: “With an order book of £350 million already secured for 2024 we look forward to another encouraging year of growth to come. Our commitment to innovation and the integration of smart processes and technology is on the rise, ensuring that we stay at the forefront of industry trends.
We are targeting 10-20% revenue growth in the next financial year. This ambitious goal is underpinned by our strategy of cultivating repeat business with our customer community while actively exploring strategic opportunities with new clients and in emerging markets.
Our success is based on our culture, our people who deliver the service and way of working. Simultaneously, we direct our investment towards strengthening our internal processes and training our people ensuring their resilience to provide both our customers and supply chain partners with the best possible service”.
To watch a video showcasing some of Glencar’s highlights during 2023 please click here.