Quinn Groundworks has dug in to maintain its “strong” position, showing growth in turnover and net assets despite a fall in profits, underlining its overall financial strength.
For the year ended 30 April 2025, the Bedfordshire-based contractor posted turnover of £36 million, up nearly 14 per cent from £31.6 million the previous year.
Operating profit, however, decreased to £1.5 million from £3.6 million, similarly pre-tax profit from £3.6 million to £1.5 million.
Cash remained solid at £4.6 million, while net assets strengthened to £8.8 million, compared with £7.7 million a year earlier.
Shareholders’ funds also strengthened to £8.8 million, compared with £7.7 million previously.
Specialising in groundworks and construction projects, the less than 10-year-old firm said it remains “strong”.
Its portfolio of cut and fill, foundations, drainage and infrastructure projects includes a £6.5 million residential scheme for Croudace Homes in Oxford, a £4.2 million project for Lagan Homes in Houghton Regis, and a £1.8 million infrastructure package in Bournemouth.
The directors noted that global economic uncertainties, from Brexit to geopolitical conflicts, continue to present challenges such as inflation, rising interest rates, labour shortages, and supply chain disruption.
Despite this, the company said it remains well-positioned, investing in machinery and equipment to maximise output and deliver for clients.
Bosses added: “[We’re] pleased with the results for the year and believe that the business remains in a strong position.”
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