Group’s record profits help to weather storm
THE Ashford-based GSE Group of construction companies has announced record-breaking financial results, with profits rising 26 per cent to £2.4 million.
The group, which employs 260 people in Ashford and across Kent, saw turnover grow by 6.4 per cent to £37 million for the year ending December 2008.
Formed in 2000, the group has divisions specialising in design and build, civil engineering, land remediation, haulage and plant hire.
Its turnover is now four times what it achieved in its launch year.
The 2008 results were largely driven by impressive performances from GSE Building & Civil Engineering which, while turnover stayed stable at £14 million, saw pre-tax profits contribute substantially to group results, and GSE Design and Build, where turnover was up 70 per cent to £22 million, pushing profits up significantly.
Darrell Healey, chairman of GSE Group, said: “These record breaking financial results reflect the hard work put in across all our divisions.
“It was important to record a strong performance in 2008 to put us in a position to weather what we all know to have been a tougher year for the construction industry in 2009.
“A lot of our success can be attributed to the fact that, across our divisions, we have expertise in all areas of construction and our different companies can often support each other on their various projects.”