THE construction and building services firm that helped to capture the Tour de France spirit by completing a velodrome in Yorkshire has seen its profits rise as the economic recovery continues.
Esh Group has enjoyed strong growth in Yorkshire with revenue rising 50 per cent to £60m over the last year. Based in Leeds, the company’s Yorkshire operation has seen strong demand for commercial build and social housing projects. The company’s civil operation, Lumsden & Carroll, delivered major projects for Yorkshire Water and completed a new Velodrome in York. The 250m outdoor track at York Sport Village has been jointly funded by the University of York and British Cycling to the tune of £1.1m.
Brian Manning, the Esh Group’s chief executive, said: “Cycling generally is picking up and the Tour de France is going to help that.”
Around five million people lined the streets of Yorkshire when the Tour de France came to our region for two days in July.
Turnover across the group, which is headquartered in Durham, grew by 10 per cent, to £192.5m, with profit before tax at £3.2m, a big improvement from the £0.6m recorded in 2012. Cash in the bank at the year end was £27.6m.
Mr Manning added: “This time last year we reported Esh Group to be in really good shape and we have continued to show this is the case. Our diverse product range delivers quality through brands which are well-recognised across the North East such as Lumsden & Carroll, Esh Property Services, Esh Build and Deerness Fencing & Landscaping all of which have and continue to serve us well. Our aim is now to replicate the breadth and quality of these services across the greater North and Scotland from our existing bases in Yorkshire and Cumbria and those newly acquired through the addition of Esh Border Construction to the group. We have now been working beyond the North East for seven years and this year we have strengthened our presence in other regions by investing in regional structures to ensure our delivery is consistent. This is a significant undertaking which has, of course, presented new challenges – all of which are well within our capabilities.”