Red Construction Group announces ‘164% turnover rise’

By Catrin Jones12 January 2023

Red Construction Group has announced that the company has seen its revenue more than double in the last financial year, a 164% increase, facilitated by sustainable growth in regional and project diversification.

Aerial of construction site in Frankfurt, Germany - Europe (Photo: AdobeStock)

Rising from £24.58 million (€27.7 million) during 2020-2021 to £64.78 million (€72.9 million) during 2021-2022, Red Construction Group has maintained a pre-tax profit of 2.3%, £1.46 million (€1.6 million).

In the past financial year, Red Construction Group also announced a group restructuring to strengthen the businesses. Red Special Projects, the company’s newest operating division, was also announced this year, focused on delivering exceptional construction services on building projects.

Graham Sturge, CEO of Red Construction Group, commented, “We continue to build on our solid foundations and in line with our strategic growth plan, we have consolidated our position this year, with a secured order book for the year ending 2023, forecasting revenues of £70 million (€78 million).

“I am extremely proud of what RED Construction Group has achieved in the past 12 months, which wouldn’t have been possible without our outstanding team and partners.”

Latest News
Bouygues wins €468m Hong Kong metro line extension contract
Two subsidiaries of Bouygues Construction have won a HKD3.9 billion (€468 million) contract to extend the Tung Chung line of the Hong Kong Metro.
Metals recycler victim of US$195 million fraud
Aurubis Inventory reveals massive shortfall in precious metals, indicating widespread fraud
Amazon to invest US$3.5 billion in new data centres
Tech giant to spend US$3.5 billion on five new data centres