Employee-owned contractor posts 40% revenue boost
Top Stories Tamfitronics Employee-owned Neilcott Construction saw double-digit percentage growth in turnover and pre-tax profit last year.In the Kent-based contractor's accounts for the 2023 calendar year, filed last week with Companies House, the firm posted £138.9m in revenue, up significantly from £100.3m the previous year.Pre-tax profit grew more modestly from £2.6m to £2.9m, but this still marked a 12.7 per cent year-on-year increase.Managing director David Huxley described a “creditable performance being achieved despite the ongoing challenge of inflation throughout most of 2023”.Neilcott became an employee-owned trust in 2021. Its improved financial performance last year enabled the firm to pay out a total of £250,040 to eligible employees.“Further progress has been made in respect of the progressive reconstruction of the board since the move to employee-owned status in 2021,” the accounts said.A further appointment is scheduled...