In the year ending 31st January 2015, Lakesmere’s turnover reached £95.6m, an increase of 11% from the 2014 figure of £86m.
Pre-tax profit was up 23% from £1.99m to £2.44m. It was Lakesmere’s best trading year to date and there looks like more to come. This year turnover is expected to exceed £100m and reach £130m in 2017.
The strong performance has been underpinned by work in the major glass facades market, where demand has been fuelled by a recent high-rise building boom in London and other cities. Lakesmere said that its integration of McMullen Facades, acquired from administration in 2012, had established it as the only UK-based company able to offer the full range of building envelope services, including manufacturing. McMullen itself is the only UK-based specialist façade contractor currently delivering high-rise facades to projects of 40 storeys, it said.
Chief executive Mark Davey said: “The Lakesmere Group has had another good trading year. We recorded our highest ever level of income, took further actions to expand our presence overseas and continued to invest in our manufacturing and infrastructure support systems to manage growth in all areas of the business.”
“We continue to adopt a prudent approach to our work and we continue to maintain strong cash reserves to sustain the business and fund investment for growth. This strategy has seen positive returns across the business and expansion into new markets at home and overseas.”