Caddick Group, the Yorkshire-based family-run construction and property development business, has reported a record turnover of £575m in its annual results for the year ended 31 August 2023.
Group-wide turnover climbed by 17% from the previous year, delivering a profit of £35.5m, coupled with a 16% growth in net assets to £182.9m.
Caddick’s Moda Living build-to-rent brand had more than 4,500 homes on site during the period.
In March 2023, Moda launched a PBSA platform, targeting the delivery of 10,000 new student homes in the next 10 years and driving a new level of service and experience in the student living sector.
The group also has 2m sq ft of industrial and employment space under development.
Paul Dodsworth, managing director at Caddick Construction, said: “It has been an exciting year of change, with the launch of our new office in Birmingham and our expansion into the North East market. We maintain a focus on ensuring that our growth is steady and sustainable thanks to the skill, knowledge and dedication of our regional teams.”
Tony Brooks, managing director at Moda Living, added: “We are pleased with a strong profit and turnover for this year, which was underpinned by the strength of Moda’s performance across our operational portfolio and a number of key deals secured in a challenging market.
“This year saw Moda make significant reinvestment in the business, with the launch of new residential platforms, market-leading strategic partnerships and securing a pipeline of high-quality and accessible living products across the UK.”
Caddick Group has more than £9.8bn of assets in the development pipeline, including more than 18.5m sq ft of logistics and distribution space and over 34,000 homes.
Photo: left to right – Paul Dodsworth (Caddick Construction managing director), Johnny Caddick (chief executive) and Myles Hartley (Caddick Developments managing director)
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