Lakesmere posts record results

Leading national building envelope and façade specialist the Lakesmere Group has recorded its highest ever level of income and a healthy increase in pre-tax profits and turnover in the period ending 31st January 2015.

Group turnover has grown to £95.6m, an increase of 11% from the 2014 figure of £86m, with profits before tax up 23% from £1.99m to £2.44m.The company is on course to build on this strong performance, with turnover expected to exceed £100m this year and circa £130m in 2017.

Commenting in his Chief Executive’s Statement, 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.”

The Group’s successful financial performance has been underpinned by the specialist’s work in the major glass facades market, demand for which been fuelled by the recent high-rise building boom in London and other major cities. The integration of McMullen Facades has also established the Lakesmere Group as the only UK based company that provides the complete range of building envelope services, including manufacturing, with McMullen itself the only UK based specialist façade contractor currently delivering high rise facades to projects of 40 storeys.

With six UK offices nationwide, Lakesmere also continues to expand its thriving international operations with contracts secured across the Middle East and Asia. The success of Lakesmere’s work overseas led to the company receiving the Queen Award for Enterprise in April 2015.

Continued investment in recruitment, training, BIM and the establishment of a new dedicated manufacturing facility at the company’s Winchester HQ have also contributed to Lakesmere recording its best trading year to date.

600450 Lakesmere posts record results
Date: 20 August 2015

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