Bolton-based builder and developer, Seddon, has reported profit and turnover rises in its latest financial results.

Pre-tax profits have more than doubled to £5.1m for the year to 31 December 2016, against £2.5m in 2015.

Turnover rose 22.1 per cent over the period to hit £209.9m, up from £171.8m in its previous results.

Seddon’s construction division accounts for £152.3m of the group’s total turnover, and reported a pre-tax profit of £1m.

The Seddon group chief executive, Jonathan Seddon, said: “We’re obviously delighted that Seddon’s construction division has returned to profit following a challenging few years for the industry.

“What’s even more pleasing is we’re seeing the benefits of structural changes, in particular empowering our regional directors and the influence of managing director, Peter Jackson.”

The improved financial results reflect a number of major changes at the business over the past two years.

In March 2017, Seddon promoted chief operating officer, Peter Jackson, to the role of managing director on Seddon Construction.

Previous MD, Jonathan Seddon, was appointed chairman of Seddon Construction, in addition to his role as chief executive of the Seddon group.

In 2016, the firm had also secured 79 per cent of its budgeted contracting work for the year and had completed 64 per cent of its contracting work with repeat customers.

Jonathan Seddon continued: “These results are a vindication of Seddon’s emphasis on investing in customer relationships and our people, in the North West and beyond, and we will continue to seek to develop repeat custom from long-term partnerships.”

ENDS

For more information on Seddon or the above press release please contact Aaron Eastwood on 0161 306 8540 or email Aaron.eastwood@frontierpr.co.uk