Construction business reports rise in turnover and profits

Construction firm Stepnell has reported a rise in turnover and profits and is moving forward with a “solid foundation”.

The family-run firm, which dates back to 1867, turned over £150 million in the year to March, up from £112 million in 2025.

Pre-tax profits also went up from £1.046 million to £2.8 million, while cash in the business improved to £20.8 million.

Chief executive Tom Wakeford said: “We are pleased with our significantly improved performance in difficult market conditions, notably the increase in profitability and cash.

“This provides a solid foundation for the company going forward.

“In the current year, the business is on track to deliver a further 20% increase to our turnover, driven by client demand from the performance of our teams, extending geography, and staying true to careful project selectivity.

“The significantly increased cash position, strong balance sheet, improved trading and a strong pipeline of work ensures the business is positioned well for the coming years.

“Stepnell’s significantly improved performance has been delivered by partnering with clients which enable projects to be delivered through honest communications of budgets, timely problem solving and transparent understanding of risk, delivering certainty for all stakeholders.”

Stepnell is currently working on a range of projects across the country.

It also has plans to continue investing in enhancing its regional offices over the next 12 months.

Tom added: “Despite uncertain market conditions, the business has shown strong growth.

“The board has laid the foundations for a planned growth in turnover and profit, through continued project selectivity to secure the projects which better suit the company’s objectives, together with strong delivery on site.

“We have focused on developing our teams and they have continued to deliver high quality finished products with improved control and predictability of programme which is being reflected in 75% of our work being repeat business.”