A Year of Consolidation for Esh Group

A Year of Consolidation for Esh Group

Consolidation and investment were the key focuses for North East-headquartered Esh Group in 2015, shareholders learned today.

The Durham-based firm, which has offices in Yorkshire, Cumbria and Scotland, generated turnover of £275m in the year to the end of December, 2015.

Brian Manning, CEO, said: “This is a good performance and a credit to the hard working employees and supply chain partners.

“2015 was always anticipated as a year of consolidation in terms of turnover given the growth in 2014.

“Profit has been affected by a number of factors including; market conditions, investments in business outside the North East and costs ahead of a major IT project.”

Esh Build completed a number of projects during the year, including the £5.4m Thirteen headquarters in Stockton and the £7.4m STEM Skills Centre at Middlesbrough College.

The Group, which employs more than 1,200, also won significant work in 2015 including a ten-year contract to carry out work on Northumbrian Water’s water and wastewater networks.

The Esh share scheme, which includes 180 employees, has delivered significant gains to date. Further rewards for management and employees are also in place to recognise hard work and performance.

Shareholders were also told of work carried out by Esh Charitable Trust and Esh Added Value – the two supporting parts of Esh Group’s community work.

During the year the platforms supported the national award winning Building My Skills initiative which introduces school children, sixth form and university students to employability skills and leads them into work experience, apprenticeship and job opportunities. The scheme involves 103 business partners, 71 schools and over 7000 students.

Esh Communities – Esh Group’s financial support platform for community projects – delivered more than £40,000 in grants to 39 projects, including 12 in the North East.

The business aims to increased grants delivered to £50,000 across 50 projects in 2016.

Brian Manning said: “These results show a successful, diversified strategy which is working not just to the benefit of our own employees, supply chain and customers but also the communities in which we operate.

“The construction industry is showing signs of sustained recovery and with our strong cash position, Esh Group is well positioned to lead the new opportunities with our partners once areas such as devolution and the EU are more settled.”

 

For more regional business news, click the link below 

Bqlive BQB Sign Up Button NE