North East construction company Brims is celebrating unprecedented success with a year that saw both profits and staff numbers more than double. The Sunderland-based company’s accounts for the year ending March 2024 reveal a remarkable 46% increase in turnover, reaching a record £58.3 million, while operating profit surged from £1.3 million to £2.7 million. The workforce expanded from 95 to 205 employees, a growth attributed partly to the acquisition of the Teesside division of the collapsed contractor Tolent, thereby preserving several jobs.
Financial Director Ian Clift expressed satisfaction with the results, noting that the challenges posed by material and skilled labour shortages and price inflation in 2023 had stabilised. Secured sales three months after the year-end were the company’s strongest to date, standing at £55.6 million, instilling confidence in a further increase in turnover in the upcoming financial year. Clift stated, “Thanks to our people, the business delivered robust margins alongside increased turnover, all supported by a strong balance sheet, a healthy order book, and excellent supply chain and client relationships. This was the first full year of trading for our new Teesside division, which exceeded budgeted profit and turnover.”
Clift highlighted the company’s problem-solving culture, which encourages unconventional thinking to find alternative solutions. He emphasised Brims’ selective approach to project undertakings, reinforcing confidence in continued positive results. During the year, Brims completed several high-profile regional projects, including the £3.4 million contract for the new Marks and Spencer store in Washington, a £200,000 eye health clinic in North Ormesby, and three new retail units at the Gateshead Metrocentre in a £6.3 million contract. Additionally, the company executed £1 million worth of refurbishment and conversion works for Sunderland University and contributed to the creation of the Ad Gefrin Anglo-Saxon Museum and Whisky Distillery in Wooler, Northumberland.
Towards the fiscal year’s end, Brims finalised the construction of a new Wickes store in Durham and the refurbishment of the security area at Newcastle International Airport under a £3.6 million contract. Director Richard Wood described the year as excellent and acknowledged the challenges faced, highlighting the successful integration of the Teesside office. This office has established a solid client base and is seeing repeat business, contributing approximately £19 million to the company’s turnover.
The Sunderland region continued to perform well, with turnover reaching around £40 million. Looking ahead, Wood spoke optimistically about a healthy order book and numerous opportunities across various sectors, which are anticipated to drive further growth in turnover and profits. Wood acknowledged the professionalism and performance of Brims’ staff and employees as key to the company’s ongoing success, allowing them to meet client demands and expectations consistently.
Overall, the company’s strategic decisions and operational efficiency have positioned it for sustained growth, demonstrating resilience and adaptability in a challenging economic environment.
Brims Construction has demonstrated robust growth and stability in a challenging market, driven by strategic acquisitions and a dedicated workforce. The company looks forward to continued success, bolstered by a strong order book and a selective approach to project undertakings.