Member Article

New contracts boost Wallsend construction firm

Wallsend-based building contractor Turney Wylde say a series of contract wins has boosted their turnover by 20% and created eight jobs.

The specialists in social housing, property regeneration and commercial work across the North East are eyeing £15 million turnover this year.

The firm have used funding from Lloyds Bank Commercial Banking, via the Funding for Lending Scheme (FLS) to facilitate the expansion.

Ken Parkin, managing director of Turney Wylde, said: “These new contracts are great wins for the company, cementing our position as a key player in the construction sector in the region and providing an ongoing pipeline of work for the next five years.

“While it is a highly competitive industry, the new long term work from such well-known organisations is a huge vote of confidence in Turney Wylde, and one that we’re aiming to translate into continued growth in the coming year.

“The ongoing support from Lloyds Bank Commercial Banking has been vital in giving us the capacity to pitch for and take on these contracts, which simply wouldn’t have been possible without it.”

Mike Gascoigne, senior relationship director for Lloyds Bank Commercial Banking, said: “Turney Wylde is a perfect example of a firm that is continuing to grow in a highly competitive sector by providing a high quality service to customers.

“It was one of only 21 contractors nationally to secure the British Gas contract, demonstrating the professionalism and ability of the team to both compete for and service technical construction work for national customers as well as regional ones.

“We have a wide range of support that we can offer to businesses looking to expand, including lending through FLS, through which we offer SMEs a discount of one per cent for the life of their loans.”

This was posted in Bdaily's Members' News section by Tom Keighley .