Henmead grows revenue and profit
Summary
Henmead, parent company of Eric Wright Group, reported higher turnover and pre-tax profit in its latest audited accounts, alongside increased cash balances and headcount. The company said performance was supported by operational efficiencies, a diversified business mix and a strong contracting pipeline, while noting that Building Safety Act requirements continue to lengthen preconstruction periods on large residential schemes.
Why it matters
For residential property surveyors, the reference to the Building Safety Act highlights ongoing impacts on the delivery and timing of large-scale residential projects. The company’s stronger financial position and active pipeline may indicate continued activity in development and construction markets relevant to surveyors working on new-build and complex residential schemes.
Key points
- Turnover rose to £298.5m and pre-tax profit increased to £14.4m.
- Construction division income and profit both improved year on year.
- Civil engineering turnover increased sharply, with profit doubling.
- Henmead said preconstruction periods remain long, partly due to Building Safety Act requirements on large residential schemes.
- The group reported a stronger pipeline and no dividends were paid in either of the last two years.
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