In the year to March 2024, Clancy Group Holdings Ltd increased turnover by 13% to £378.5m (2023: £334.5m) and pre-tax profit by 55% to £20.9m (2023: £13.5m).
Strong profitability and a robust cash position – with cash and equivalents at £34.2m at year end – enabled the company to invest £11.2m in new plant and technology during the year.
Over the past three years, the family-owned contractor has now grown turnover by 33%
With a secured order book of £1.5bn, the company has been buoyed by new work in the regulated water and energy sectors. Its frameworks include Southern Water and South West Water capital works programmes. It is also working for Scottish & Southern Energy Networks (SSEN) and for UK Power Networks in London and the southeast.
Clancy is also a subcontractor on sections of HS2, working on bridge foundations, earthworks and track drainage.
Chief executive Matt Cannon said: “The past year has seen us expand our client base and increase the scale and breadth of our work, especially in capital projects which now account for an ever-greater portion of our revenue. With rising scrutiny over the challenges facing infrastructure sectors, we are fulfilling a need for stable, long-term partnership that our family-run model supports.
“A focus on brilliant delivery and smart investments in people, plant and tools are key to our success. Our prioritisation of direct employment ensures we bring consistency in quality and safety, together with the best available expertise.
“With a secure pipeline through 2025 and in the second half of the decade, we are well placed to invest further in the systems and skills we need: accelerating the connections and upgrades across infrastructure to support growth, increase environmental protection, and accelerate the green transition.”
Chairman Kevin Clancy said: “It has given me great pride to watch our family-run business continue to go from strength to strength as we celebrate one of the best years in the business’ 66-year history, and mark six years of continued growth.
“These excellent results reflect our objectives to be a trusted partner for clients and will further enable us to help boost their efficiency and manage costs, while supporting their environmental goals.
“Going forward, we are committed to continuing our investment in people and making sure our 3,000-strong Clancy family is set up for the future. This will be the key to future success as we help usher in the next generation of infrastructure projects.”
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