North Wales developer booms as backs up its 'fastest growing' tag
A Denbighshire-based construction firm's five-year strategic growth plan is on the right track after turnover increased by more than 25%. Wynne Construction announced revenue reached £91million in the 12 months to July 31, 2024, a figure which is up from £71m in the previous financial year.
Pre-tax profits increased from £2m to £2.3m. The Bodelwyddan-headquartered company's latest accounts underlined why it was named one of the 50 fastest growing businesses in Wales during 2024.
As recently as 2022, turnover was hovering around the £33m mark. Wynne has also carried out key improvements including environmental enhancements to its Charles House headquarters as it bids to futureproof the building as well as boost potential growth opportunities.
A new management suite has been created, featuring state-of-the-art video conferencing facilities and new offices, as part of a second-story extension at Kinmel Park.
Wynne Construction managing director Chris Wynne said: 'We are well-positioned for further sustainable, disciplined progress, which has always been our long-term vision for the business, our employees, and the supply chain.
(Image: Outwrite)
'Our main focus area remains sustaining long-term client relationships, and coupled with our growth plans, is key to winning contracts, attracting and retaining talent, and developing an enviable reputation.'
Wynne is working on multi-million-pound schemes including Sunnyside Wellness Village in Bridgend, Haverfordia House apartments and reablement centre in Haverfordwest, and a new leisure centre in Newport.
It's also building the Enterprise, Engineering, and Optics Centre (EEOC) for Wrexham University, Pontllanfraith Centre for vulnerable learners in Caerphilly, and a new school on Wrexham Road in Chester.
With a £72m year-end order book, the company is relishing the future, with Chris adding: 'The strength of our project pipeline is of great pride.
'We will, however, not rest on our laurels, especially given the landscape of many sectors within the country, not least the construction industry and the rising costs of material and increased demand for modern methodology. We are committed to sustainability, and by embracing innovative techniques we are consistently driving forward as a business.'
Wynne Construction was named one of the top 200 in the UK Fast Growth Index for 2024, the programme which identifies the fastest-growing companies in seven regions and nations in the UK.
As one of the 350 firms identified, Wynne contributed to the 2024 UK Fast Growth Index's collective turnover increase of £9.6billion between 2021 and 2023 and the creation of 24,000 new jobs in two years. Sign up now for the latest news on the North Wales Live Whatsapp community
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Herald Scotland
25 minutes ago
- The Herald Scotland
Scottish family-owned business buys Lanarkshire skip-hire assets
NWH Group said the acquisition of the trading assets of Coatbridge-based Henry Waste Management, which it described as 'a well-established and respected skip-hire and waste-collection company', strengthens its position in central Scotland and aligns its 'long-term strategy of growth through both organic expansion and strategic acquisition'. It noted the deal also includes the transfer of 'key personnel', with the longstanding owner of Henry Waste Management, John Crawford, joining Dalkeith-based NWH in a consultancy capacity. A driver from the Henry business is also joining NWH, which employs about 370 people. NWH noted the remainder of the Henry Waste Management business - 'employees, yard etc' - was acquired by a third party. It said that Mr Crawford will work directly with Craig Williams, NWH Group executive director, to 'support the seamless integration of customers and services and ensure continuity across operations'. Mr Williams said: 'We're delighted to welcome John and the Henry Waste Management assets into our business. We've known John and his team for many years and have built a strong working relationship based on trust and shared values. This acquisition not only expands our operational footprint in the region but also enhances our capacity to serve customers efficiently and reliably.' NWH noted that, while the Henry Waste site in Coatbridge had been sold to a third party, it would retain access to a dedicated tipping bay at the location, 'ensuring a smooth continuation of service and improved operational efficiency'. Mr Crawford said: 'After many successful years running Henry Waste, I'm proud to see the business become part of a forward-thinking company like NWH. Its commitment to customer service and innovation reflects the values that helped build our reputation, and I'm looking forward to working with Craig and the wider team to ensure a smooth transition for our customers.' The acquisition took effect officially on August 1, with NWH noting an internal integration team had been appointed to 'oversee the smooth alignment of routing, scheduling, and systems across the newly acquired fleet and equipment'. The company added: 'This latest move underscores NWH Group's commitment to sustainable growth, enhancing service capacity while supporting the circular economy across Scotland.' Read more NWH in April declared it had delivered 'another outstanding year of growth', as it reported a record trading performance for the financial year ending September 30, 2024. It observed that, since 'the Covid-impacted 2020', it had delivered increasing sales and profits. NWH achieved turnover of more than £55 million in the 12 months to September 2024, a 6% increase on the previous year. Operating profit rose by 24% to £4.2m, which NWH said demonstrated the strength of its 'diverse business model and commitment to long-term value creation'. NWH said this 'robust' financial performance had been driven by sustained expansion across its trade waste and construction and demolition divisions, as well as strong contributions from its 'newly enhanced' processing facilities in Newcastle and longstanding sites in Midlothian, Glasgow, Dundee, Angus and Edinburgh. It added: 'Despite some sector-wide headwinds, the group continued to invest in infrastructure, sustainability and operational excellence. Growth in the trade waste division was underpinned by improved customer retention and new multi-year contract wins across key commercial sectors such as retail, leisure and manufacturing.'
The Herald Scotland
25 minutes ago
- The Herald Scotland
Scotch whisky giant Diageo chief executive faces huge task
The ongoing strife appeared to reach its nadir at Diageo last month, when it parted company with chief executive Debra Crew with immediate effect, by mutual agreement. Ms Crew had been little more than two years in the role. A tumultuous reign saw her preside over a slump in sales in Latin America that led to the company issuing a profit warning in November 2023, and the launch of a major cost-cutting drive in May this year in response to President Donald Trump's global tariffs campaign, which is having a major impact on Scotch exports to the US. But her pledge to deliver around $500m of cost savings failed to move the City, as Diageo's share price continued to falter and, according to reports, faith in Ms Crew's ability to reverse the situation steadily eroded. An announcement to the stock market on July 16 confirmed her departure, with Mr Jhangiani - a relative newcomer to Diageo - stepping into the role on an interim basis. It can certainly be argued that Ms Crew was dealt a difficult hand. Many of the difficulties Diageo has endured over the last couple of years have affected other major companies too, including Chivas Brothers parent Pernod Ricard, and Remy Cointreau, owner of the Bruichladdich Distillery. In July, Glasgow-based Edrington, owner of The Macallan and Highland Park, cited a 'hostile trading environment' as it reported a 26% slide in profits to £274.4m for the year to March 31. That was followed by a similar profits fall at William Grant & Sons, owner of Glenfiddich: its profits dropped by 30% to £388m in 2024. Read more: Such struggles were also writ large in export figures released by the Scotch Whisky Association in February, which revealed the value of exports dipped by 3.7% to £5.4bn in 2024. Ms Crew was not the architect of the macroeconomic upheaval that has swept across the global spirits markets over the last couple of years, or the uncertainty sparked by US tariffs. Neither was she responsible for the rise in 'moderation' and shunning of alcohol by increasing numbers of younger adults, which is increasingly presenting a challenge to spirits producers. But it is tough at the top of the drinks business and at any rate that is all in the past now, and when market watchers tuned in on Tuesday it was to see where Diageo goes from here. And it seemed that at least some in the City liked what Mr Jhangiani, who joined Diageo as chief financial officer in September, had to report. Shares in the company leapt by nearly 5% on the day and gained a further 4% on Wednesday, which may largely have been down to its pledge to go further with the cost-cutting plans initiated by Ms Crew, rather than because of of any improvement in the macroeconomic or geopolitical outlook. The company raised its cost-saving target under its Accelerate programme by $125 million to $625m over the next three years, which Mr Jhangiani said was 'not about' job cuts but finding cash for reinvestment in its brands. City observers may also have been encouraged by Diageo reiterating its commitment to undertake 'appropriate and selective disposals over the coming years'. Recent deals by Diageo have included the sale of its majority shareholding in Guinness Nigeria, and the agreement to swap its majority ownership of Ciroc vodka in North America for an interest in Tequila brand Lobos 1707. Mr Jhangiani was asked if the company would sell any of its Scotch whisky distilleries as part of its disposal programme but dodged the question to some extent. He said Diageo was continuing to grow its share of the Scotch whisky category and flagged the potential of building exports to India, following the recent signing of the UK-India free trade agreement. He said this would be good for Scotch and Scotland as a whole. Speaking more generally, Mr Jhangiani was at pains to talk up Diageo's strengths and 'fantastic brands', as well as encouraging performances by Don Julio Tequila, Guinness and Crown Royal Blackberry Canadian whisky in the year to June (for which the company reported a 27.8% fall in operating profit to $4.335bn). But he emphasised that the global economic backdrop remained challenging and that 'there is clearly much more to do' to boost the company's prospects. As Mr Jhangiani expanded on the work Diageo was doing to 'sharpen' its focus, many of the details he shared would have made more sense to drinks sales people and marketers than newspaper journalists. But some of it seemed so sensible that you wondered why the company was not already doing it, for example the development of individual strategies for Italy, Spain and France – given that people have different drinks preferences in these countries – instead of lumping them all together under the banner of Southern Europe. Doubtless, given the company's scale (it has more than 30,000 employees) and reach across the world, the process of learning how markets behave and how to respond to that is surely a never-ending process, and one that requires considerable ongoing investment. There will never be a situation when everything is plain sailing in all of the many countries within which Diageo operates. But while there are many things Diageo can control it remains, like all companies, at the mercy of macroeconomic and geopolitical headwinds that currently seem to be as bracing as they have been for many years. Fundamentally, whoever gets the top job at Diageo on a permanent basis will need those headwinds to settle down if they are to have any chance of success.
Scottish Sun
4 hours ago
- Scottish Sun
Future of chain Claire's on UK high streets uncertain after US parent firm files for bankruptcy
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) FASHION accessories chain Claire's is facing an uncertain future on UK high streets, after its US parent firm filed for bankruptcy. It is the second time the ear-piercing favourite has declared itself bust, after previously filing for bankruptcy in 2018. Sign up for Scottish Sun newsletter Sign up 1 Claire's is facing an uncertain future after its parent firm filed for bankruptcy Credit: AFP Its finances are now under pressure from weak consumer demand and supply chain uncertainty. The filings showed that the parent business reported liabilities of up to $10billion (£7billion) and owed between 25,000 and 50,000 creditors. Claire's operates 2,750 stores worldwide, including 280 in the UK. While British stores remain unaffected for now, the UK arm has lost £25million over the past three years and is at risk of collapsing into administration later this month. READ MORE ON BUSINESS LAST ORDERS Award-winning UK restaurant chain shuts ALL its sites after nearly a decade It has been working with advisers to explore a sale or restructuring. However, potential buyers, such as Hilco Capital, are understood to have walked away. Retail experts say Claire's is struggling to stay relevant. Julie Palmer, from Begbies Traynor, said: 'Claire's low-price offering is clearly not strong enough to win over its core customers — teens and young adults — as they now have access to a vast array of affordable and convenient products online through platforms like Amazon and Temu.' Claire's boss Chris Cramer said: 'We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.' Nostalgic 90's retailer files for bankruptcy after chain misses rent payments for June and July 'CORE BLIMEY! MINING giant Glenciore has decided to stick with its London stock listing, scrapping plans to shift to New York, in a win for the City. It has been listed on the FTSE since 2011, when it was valued at £37billion — at the time the exchange's largest float. However, the Swiss-based firm has announced plans to slash £753million in costs by 2026, including job cuts across its 150,000-strong workforce. METRO BANK ON THE UP METRO BANK has bounced back, posting a £43.1million pre-tax profit for the first half of 2025 — up from a £33.5million loss reported in the same period last year. The lender doubled new corporate and small business loans to £1billion, and cut 8 per cent from its costs by axing a third of its workforce and reducing branch hours. Boss Daniel Frumkin said: 'Our strong performance reflects the decisive actions we have taken.' Elsewhere, Sabadell shareholders have approved the £2.65billion sale of TSB to Santander.
