Envelope firm shows third consecutive year of sales growth

Durham-based CA Group improved turnover and profitability last year, according to its latest accounts filed with Companies House.

Turnover for the year ending 30 September 2023 reached £117.2m, compared with £107.5m in 2021/22.

This was the third consecutive year of revenue growth for the firm since a downturn related to the Covid pandemic in 2019/20.

The latest 9 per cent revenue increase generated a pre-tax profit of £11.4m and a margin of 9.7 per cent.

Profit and margin the previous year were £7m and 6.6 per cent respectively.

The firm, which has a contracting arm as well as a manufacturing division for building products, was the fifth-largest envelope contractor by turnover in the CN Specialists Index 2023.

CA Group has been particularly active in the logistics sector. Projects included roofing services for Winvic at its Stockley Park development (pictured last year) for Prologis UK in west London.

The group owed no bank loans and held £17.3m of cash at year-end compared with £10.9m the year before.

It paid out interim dividends of £14m during the 2022/23 financial year – more than four times the previous total of £3m. The directors said they did not recommend a final dividend, though.

While average monthly headcount fell from 247 to 228 employees, the firm’s annual wage bill rose by 21 per cent from £11.2m to £13.6m.

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