R G Carter Construction has delivered a strong cash position of more than £60 million, with turnover expected to increase during FY2026. 

For the year ended 31 December 2025, the firm’s cash balance grew to £63.2 million, up 22.6 per cent from £51.5 million the year before.

The Norfolk-headquartered business, which delivers a range of construction and building services to the UK built environment sector has forecast a “strong” order book in the coming year, including a framework contract with the Department for Education.

Staying with its balance sheet, net assets remained stable at £36.6 million (FY2024: 38.7 million), with the firm issuing dividends of £7.95 million in the year (FY2024: £9 million).

And while revenue for FY2025 fell to £194.3 million (FY2024: 224.9 million), bosses are expecting turnover to rise in the future.

Elsewhere in the business, RG Carter has made ongoing investments to enhance the working environment, benefit colleagues and propel the success of the company.

“The group has performed well and has on hand a strong order book for the coming year, including award of the Department for Education framework agreement,” a financial statement read.

Founded in 1921, R G Carter operates from multiple offices throughout the UK and caters to several sectors including commercial & industrial, later living, defence, healthcare, hotels & leisure, retail, and residential.

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Morgan Sindall Construction has appointed a new area director of its North East and Cumbria division.

Nick Corrigan joins from Willmott Dixon where he spent close to 13 years, latterly as director.

He also previously worked for The Miller Group for close to 12 years, and has 30 years’ experience working in the construction industry, much of that spent in the North of England. 

Speaking about his new role, Corrigan said: “This is a part of the world I know well and care deeply about. There’s huge potential for growth in both the North East and in Cumbria, not least because of the renewed focus from the top levels of government on rebalancing the UK economy and supporting the UK regions.”

Morgan Sindall is currently delivering public and private sector schemes worth up to £100 million across the region. 

Projects include for the defence, education and leisure sectors as well as works for regional frameworks including NEPO, SCAPE and Pagabo.

Corrigan added: “I’ve also seen first-hand the strength of Morgan Sindall’s commitment to social impact and the quality of the systems it has in place to make sure local people benefit, local supply chains are involved, and the local pound is valued.”

For the six months to 30 June, Morgan Sindall reported group revenue of £2.56 billion, up 8 per cent, and an operating profit of £111.5 million (HY2025: £91.3 million).

Interior fit out continued to outperform traditional construction as it experienced steady growth. 

Simon Arnott, managing director for Morgan Sindall Construction in the North, said Corrigan’s “breadth of experience and genuine passion for the industry make him the ideal person to take this business forward as it continues to grow”.

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Stepnell has recently undergone an operational restructure, with a more selective approach to contracts, greater focus on project delivery, and stronger commercial control.

The shift follows the takeover of Stepnell by chief executive Tom Wakeford and his family last year after a shareholder-agreed corporate demerger.

Wakeford has since said the group has demonstrated “strong growth”, overcoming historic losses related to older projects, to nearly triple pre-tax profit and more than double its cash balance this year. 

Founded in 1867, the Warwickshire-headquartered company is forecasting a 20 per cent rise in turnover in the coming year, as its closes in on record revenues of more than £156 million last reported in 2019.

With a “solid foundation”, Wakeford is targeting increased profitability following its expansion into the North West and an additional office location in Exeter.

This firm foundation is built upon a gradual strengthening of the group’s core financial metrics over several years and the maintenance of others.

As previously stated, Stepnell is pursuing income growth, particularly from frameworks.

Supporting that ambition is the group’s profit from operations which, despite mild fluctuation, has shown positive growth over the last five years, culminating in £2.3 million profit this year. 

Underpinning Stepnell’s P&L record is its balance sheet which recovered quickly from the pandemic years, with cash increasing annually like clockwork, growing from £883,000 in 2021 to almost £21 million in the year to March 2026. 

The group’s shareholder funds, meanwhile, have also remained robust across the same period, growing annually before peaking last year with net assets worth £20.2 million. 

In addition to framework wins, Wakeford is also focused on healthcare, education and residential sectors, as the group pursues growth in turnover and profit going forward. 

After an agreement by shareholders to demerge the Stepnell Group, splitting the construction, property management, and property investment elements of the business, the contractor launched Lawford Bespoke Joinery last year, a specialist business headquartered in Rugby.

Wakeford continues to lead the construction unit and Step Energy, Stepnell’s decarbonisation and renewables business.

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