Pre-tax profits increase by 50% to reach £2.1m
Leading UK construction, refurbishment and fit out contractor,
Gilbert-Ash today announced its financial results for the year ended 31 December 2017.
The results confirm a 50% increase in pre-tax profits to reach over £2m, up from £1.4m in 2016. Additionally, the contractor reported an overall turnover of £165.5m, an increase from £148m in the previous year.
Gilbert-Ash has worked on several landmark buildings in the UK across a range of niche sectors, driving turnover and growth. Prestigious works include the £19.5m Cambridge Mosque project, the £21.5 million build of the AC Marriott Hotel in Belfast, as well as the award-winning City of London Freemen’s School swimming pool and the £20.5m new build of the renowned Mountview Academy of Theatre Arts with Dame Judi Dench at the helm as President.
The company is a trusted partner and strong client relationships have led to significant repeat business. This includes a relationship with Foreign and Commonwealth Office spanning over 20 years and 43 countries, including work in France, Nepal, Sri Lanka and Hungary in 2017.
Ray Hutchinson, Managing Director, Gilbert-Ash commented: “Whilst market conditions remain highly competitive, the results emphasise the continued success of our strategy to focus on our strengths and invest in national and international markets to deliver landmark buildings.
“Gilbert-Ash is an employee owned company which certainly leads to a unique working culture and family environment, and the results are in no small part down to this environment and ‘can do’ attitude of our dedicated team.
“We have had the privilege of working with excellent clients, partners and suppliers, and we really do work as one to deliver innovative, bespoke buildings across the landscape.”
Ray Hutchinson, Managing Director.
Along with strong financial results, Gilbert-Ash has also been recognised within its industry as it was recently awarded the coveted ‘Contractor of the Year’ title in the UK Construction News Awards.
The company has 174 employees at offices in London and Belfast. With stand-out projects currently underway such as the prestigious Royal College of Music in London, and the continued work with hotel group Whitbread in delivering its next generation Premier Inn hub hotels, Gilbert-Ash is firmly establishing its position within the top UK contractors. It has completed a broad portfolio of successful construction projects across sectors including arts and culture, workplace, hotels and leisure, science and technology, retail and residential.
