Published: 00:01, 02 February 2018 |
A decorating contractor which worked on the Shard and the Olympic Stadium increased annual turnover by nearly £10m as it focused on blue chip clients.
Lucas Group, based in Wrotham, increased revenues by 48% to £29.5m and grew pre-tax profits by 10% to £854,000 in 2016, its latest accounts show.
The firm, which has also worked for BAA, the Savoy Hotel and McLaren, achieved the growth after focusing on “super fit out” projects or schemes worth more than £10m with major clients.
In his company report, chairman and managing director Danny Lucas said the company is “well placed to take advantage of the upturn in the top end of the UK construction market”.
He added that the business “will remain strong by staying focused in niche areas such as specialist projects and negotiated repeat work”.
However, he recognised the “widely discussed skills shortage” in the UK construction industry.
Mr Lucas said the company was looking at funding and grants to establish an in-house training facility.
The firm, which employs about 45 people, secured £880,000 of refinancing from HSBC to invest in the business last year.
He said: “During a challenging trading period the group has continued to improve and invest in the business by developing staff through an approved and ongoing training and development plan, developing further the group’s state of the art HQ and fully functional logistics and consolidation centre in order to demonstrate our commitment to eco-friendly contracting.”
Mr Lucas moved the firm to its Kent headquarters in 2010 and around the same time took control of the business in a management buyout.
The firm boosted operating profits by 11% to £935,000.
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