• 19/12/2017

Construction and the Fast Track 100 – where next?

Construction and the Fast Track 100 – where next?

150 150 Kevinearle

The annual Fast Track 100 published by the Sunday Times at the start of December is a handy gauge for the biggest growing companies in the country. Construction regularly features heavily and this year’s index is no different. A total of 15 of the UK’s 100 fastest growing companies are from the construction sector.

With the housebuilding industry on the verge of major boom, housebuilders feature heavily but consultants, utilities contractors, fit-out companies and main contractors all feature in the Fast Track, which covers companies turning over more than £250,000 but no more than £500 million.

The fast track is based on historical financial data, so not forward looking but Glenigan’s research can provide some indication on the next stage in the development of these companies.

The highest ranked construction company is Eccleston Homes, a housebuilder from Warrington, which was founded in 2011, has experienced a 110% rise in annual sales growth in the past three years and is ranked 13th in the Fast Track.

Eccleston did not feature in Glenigan’s top 50 ranking of the UK’s biggest housebuilders by planning activity for 2016, but a number of schemes are moving through the pipeline. A 36-unit scheme in Tyldesley started on site this summer, while a 48-home project in Norton Road, Manchester, and a 99-unit project in Couldson are due to move onto site in 2018, suggesting further growth.

The next highest ranked construction company is Radford in 14th after an 108% rise in sales. The Suffolk contractor has been working for major clients such as Southern Housing and the Diocese of Westminster on £10 million plus schemes in 2017 and looks set to boost turnover again.

Hampshire-based housebuilder Bargate experienced an 85% rise in sales and moved on site with a number of projects in 2017, including 26 homes at Rowland’s Castle and 43 units at Alton, which suggests further expansion is likely.

Northumberland housebuilder Cussins is ranked 29th in the Fast Track and continues to expand with starts made on a 145-unit scheme in Newcastle-upon-Tyne in 2017 and more phases starting on an ongoing development at Alnwick.

Moving up the Fast Track index is Lioncourt, which was ranked 77th in 2016 and shot up to 41st this year after a 69% rise in sales. Glenigan’s data shows that in 2017, Lioncourt moved on to site with a number of major schemes, including a 50-home development in Shrewsbury, 81 homes in Malvern and 40 units in Telford. With other planning applications moving through the pipeline, further growth looks likely.

Other housebuilders in the Fast Track include Story Homes in 75th. In 2016, Story applied to build 338 homes according to Glenigan and other schemes are moved through the pipeline in 2017.

Contractors in the Fast Track include fit-out firm Corley & Wooley, which is ranked 17th and working for clients from Lomondo to ESAS according to Glenigan, and MCS, which has penetrated Glenigan’s top 100 ranking of the industry’s biggest contractors. In the 12 months to November 2017, the order book at MCS was £94 million and the company was ranked in 82nd place. Other construction companies in the Fast Track include contractors Northvale (49th), Mac (59th), Aptus Utilities (86th), Net Zero Buildings (89th) and Madigan gill (92nd, engineers Darke (96th) and housebuilder Chartway (100th).

News source: Glenigan