![Red hoardings [image by Luca Piffaretti]](/assets/news_articles/2023/01/1673341089_red-construction-group-hoardings-lucapiffaretti.jpg)
In the year to 31st March 2022 Red Construction Group turned over £64.78m, up from £24.58m the previous year.
Pre-tax profit grew similarly to £1.46m (2021: £577,000), maintaining a 2.3% margin.
Red Construction Group was founded in 2016 by Graham Sturge and Ian Hopkinson.
In autumn 2021 it restructured, opening distinct operating companies for its key regional market, Red London and Red South West. [See previous report here.]
Red Special Projects, the company’s newest operating division, was also announced this year, focused on building projects up to £7m.
Chief executive Graham Sturge said: “It has been a milestone year and a period of huge growth for Red Construction Group. We’ve increased the size of the business and built company longevity with the implementation of key regional operating divisions, while going back to our roots with the creation of the dedicated Red Special Projects team.”
He continued: “We continue to build on our solid foundations and in line with our strategic growth plan, we have consolidated our position this year, with a secured order book for year ending 2023, forecasting revenues of £70m. At the heart of our strategy is the aim to be the contractor of choice in the commercial, residential, hotel and leisure markets, based on the company’s reputation being synonymous with effective delivery across new build and refurbishment projects in the UK.”
Projects completed last year include 14 Park Crescent for Amazon Property, the refurbishment of 3 Shortlands for Romulus, and The Angel Central refurbishment for CBRE Global Investors.
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