Newcastle building contractor Surgo Construction says it is in a strong position despite the challenges of Covid-19 and the looming Brexit deal deadline.
The firm, which has been involved in a raft of high-profile North East schemes in recent times, including the redevelopment and refurbishment of Newcastle University’s Hatton Gallery, has published latest accounts covering the year ended October 31 2019 in which revenues rose from £18.7m to £21.6m.
Operating profit also soared, from £55,276 to £320,077, and total comprehensive income stood at £308,210, a marked improvement on the previous year’s £34,342.
While the figures don’t include the period covered by the arrival of the pandemic, directors said they were confident that the company is sustainable, with continuing investment driving improvement.
In its strategic report, directors said: “Through constant investment in procurement and training, combined with a focus on health, safety and environment, the company will ensure it continues to improve and further generate an affirmative reputation and goodwill with all.
“Whilst securing attractive procurement opportunities will always present a challenge, especially in light of the continued uncertainties resulting from Covid-19 and the upcoming Brexit deal deadline, significant recent successes coupled was a good pipeline of future work gives us confidence that stability is sustainable.
“The continued diversity of our current and projected workload provides us with the ability to deal successfully with the ebbs and flows of the market and the potential obstacles resulting from another lockdown scenario.”
The firm said net funds stood at £3.7m, up on the previous year’s £3.3m, which puts the business in good stead when competing head-to-head for contracts with main competitors.