Raisco enjoys £4.3m sales boom

Raisco enjoys £4.3m sales boom

Newton Aycliffe-based construction firm Raisco is enjoying a sales boom after suffering a slight dip in orders earlier this year.

Raisco saw 2015-16 annual turnover drop to £5.4m from £7.5m at the end of March after a national four-month lull in the construction industry.

But boss Gary Raistrick says he wasn’t too concerned after two years of doubling turnover to £7.5m, and is predicting a record year for Raisco after already securing £4.3m worth of orders for the new financial year beginning in April.

Raistrick is now expecting to land a further £1.2m in sales in May, pushing his annual turnover to £5.5m in the first six months of the 2016-17 financial year.

He said: “There seemed to be a massive lull in the industry from November through to March, which has seen our forecast sales reduce.

“It seemed to be booming until the orders dropped off a cliff towards the end of the year. Everyone seemed even more unusually quiet in December, January and February as we noticed a slowdown in orders around October time.

“But I think there’s going to be an even greater boom later this year. We’ve had an influx of orders throughout March and into April.

“We've already secured £4.3m for this financial year and we’re expecting about another £1.2m of orders over the next few weeks, with a majority of these works being completed within the first half of the year which will see us exceed the total of last year’s annual turnover.

“I’m confident we’ll improve on our record 2014-15 turnover of £7.5m by the end of our current year.”

Since being formed eight years ago, Raisco has rapidly grown into one of the country's leading construction and steel fabrication firms, diversifying from purely a structural steel company to having the ability to provide a full construction turnkey package.

It now works with clients up and down the country and has delivered a wide range of fabrication and secondary steelwork projects for many of the construction industry's well-known main contractors as well as turnkey solutions for end-user clients.