Caddick Group, the Yorkshire-based family-run construction and property development business, has reported a record turnover of £226m, in its annual report for the year ended August 2018.
Group-wide turnover climbed by 49% from last year and pretax profit grew by 37.5% to £11m.
Paul Caddick, chairman of Caddick Group, said: “Despite the challenges posed by Brexit and related political uncertainty, this has been a bumper year for the group, with turnover breaking the £200m mark for the first time in the company’s history.
“After a dip last year, profits are also up, while we have a strong pipeline covering two of the hottest areas of the UK property market right now: beds and sheds. Given the continued mismatch between demand and supply in residential and logistics, driven by structural rather than cyclical shifts, we see further growth potential in both sectors and are committed to delivering.”
Caddick’s Moda Living build-to-rent brand, a joint venture with developer Generate Land backed by Apache Capital Partners, has a £2bn pipeline of 7,000 rental apartments in 10 cities across England and Scotland.
In total, Caddick has a £4.6bn development pipeline across housing and industrial, one of the largest in the UK,
The firm has offices in Birmingham, London and Manchester in addition to its group headquarters in Yorkshire.
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