A County Durham developer is setting its sights on expansion after seeing its profits rise from £600,000 to more than three-million pounds.
The Esh Group — which employs 1,100 staff across its offices in Durham City, Carlisle, Kendal and Earlston in Scotland — also reported a 10 per cent increase in its turnover to £192.5m. Its 2013 pre-tax profits of £3.2m left the group with healthy year-end cash reserves of £27.6m.
Formed as Esh Holdings in 1999 and initially concentrating on the North-East commercial market, the group recently acquired Border Construction — now rebranded as Esh Border Construction — bringing the number of its subsidiary companies to 20.
“This time last year we reported Esh Group to be in really good shape and we have continued to show this is the case,” said chief executive Brian Manning. “We have now been working beyond the North-East for seven years and this year we have strengthened our presence in other regions by investing in regional structures to ensure our delivery is consistent.
“Our diverse product range delivers quality through brands which are well recognised across the North-East such as Lumsden and Carroll, Esh Property Services, Esh Build and Deerness Fencing and Landscaping, all of which continue to serve us well.,” he added.
“Our aim now is to replicate the breadth and quality of these services across the greater North of England and Scotland from our existing bases in Yorkshire and Cumbria and those newly acquired through the addition of Esh Border Construction.”
He added that the North-East will always be the Esh Group’s heartland, “but if we’re to get larger growth we need to look at the areas where we are relatively new, in Scotland and Cumbria”.
Commenting on September’s rejection for Scottish independence, Manning felt the development door had been opened wider north of the border. “There are now certainly many be more opportunities in Scotland,” he added. “These are interesting times and while the vote was ‘No’ it’s still a vote for change and with our borders operation we are nicely placed for the opportunities it brings.”
Austin Donohoe is the Esh Group chairman. Writing in the company’s annual report he said: “We are confident that, despite some challenges, our solid foundations combined with our robust strategic plans for growth will enable Esh Group to continue to consolidate its position and flourish for the benefit of our customers, staff and shareholders and for the communities in which we work.”
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