Driffield construction firm builds profits by 35 per cent
An East Yorkshire construction company has announced that it recorded a 35 per cent rise in profits over the past year.
Premier Modular, based in Driffield, saw its profits build to £10.6m and turnover increase to £65.3m, a 23 per cent change.
The company has also committed to invest £12m in its modular hire fleet, with operating cashflow increasing by nearly 400 per cent to £5.5m.
David Harris, managing director of Premier Modular, commented: “This strong financial performance is down to clarity of strategy and a really exceptional team across the business.
“We have focused on our customers and how we can offer a fast response and unrivalled flexibility to meet the specific requirements for each project.
“This has definitely added value to our building solutions and has resulted in a high level of repeat business.”
“We have a healthy balance sheet, an outstanding supply chain and will continue to invest in our capital growth.
“We have diversified into a range of market sectors which further reduces risk in an uncertain economic climate.
“In the past year, we have achieved significant growth with our modular apartments and in particular in the development of rapid building solutions to provide housing for the homeless.
“We are also building on the success of our hire business in London to supply construction site accommodation to major national and regional contractors across the UK.”
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