De­vel­oper on course to reach ex­pan­sion tar­get

Western Mail - - BUSINESS - Chris Kelsey As­sis­tant head of busi­ness chris.kelsey@waleson­

Prop­erty and con­struc­tion busi­ness Jehu Group has an­nounced strong end-of-year re­sults for 2016-17, with turnover at an all-time high.

The group re­ported that turnover had jumped over 20% from £34.5m to £41.9m over the last 12 months. It is now on track to meet its am­bi­tious two-year growth strat­egy, with hopes to in­crease these fig­ures to £65m by March 2019.

Jehu, which has around 20 ac­tive de­vel­op­ments at any one time across the south Wales re­gion, has seen the av­er­age size of larger con­tracts rise, with 280 af­ford­able hous­ing units and 24 lux­ury homes be­ing de­liv­ered dur­ing the year.

The boost in rev­enues has helped the group in­crease its pre-tax profit by 43%.

A sig­nif­i­cant pro­por­tion of the group’s growth has come from its res­i­den­tial prop­erty de­vel­oper Water­stone Homes, which has seen turnover in­crease from £9m to £21.4m over the year.

The lux­ury house-builder has sold-out de­vel­op­ments in Swansea, Di­nas Powys and Tenby, and is cur­rently work­ing on a num­ber of projects, in­clud­ing prop­er­ties in St Ni­cholas and Broad Haven.

The prop­erty de­vel­oper also gained na­tional in­dus­try recog­ni­tion af­ter be­ing awarded two In­ter­na­tional Prop­erty Awards for schemes un­der de­vel­op­ment for 2017-18, in­clud­ing Tusker’s Point, a col­lec­tion of sea­side homes in Og­more-by-Sea

The third-gen­er­a­tion fam­ily firm, which is led by Si­mon and Marc Jehu, grand­sons of the com­pany’s orig­i­nal founder Jack Jehu, at­tributes its suc­cess to strate­gic long-term plan­ning as well as in­vest­ment in its sup­ply chain.

The com­pany is now call­ing on other Welsh busi­nesses in the sec­tor to col­lec­tively boost Wales’ con­struc­tion in­dus­try by strength­en­ing work­ing re­la­tion­ships with their sup­ply chains and sub­con­trac­tors to de­velop ca­pac­ity and skills in the sec­tor.

An­drew Lycett, fi­nance and op­er­a­tions di­rec­tor at Jehu Group, said: “It’s been a great year for Jehu, with the busi­ness hav­ing de­liv­ered an ex­cel­lent per­for­mance over the last 12 months with our end-of-year fig­ures up £7.3m on last year.

“Our cap­i­tal and prof­its re­main strong, with all of our busi­nesses, in­clud­ing our lux­ury prop­erty de­vel­oper arm Water­stone Homes, mak­ing a sig­nif­i­cant con­tri­bu­tion this year, while our con­tract­ing work­load has con­trib­uted to our re­silience. This is good news for both our clients and sup­ply chain.

“Valu­ing and sup­port­ing our sup­pli­ers has been instrumental in our re­sults and we are con­tin­u­ing to work closely with them on a col­lab­o­ra­tive ap­proach, ul­ti­mately im­prov­ing health and safety pro­ce­dures, staff well­be­ing and over­all per­for­mance on both sides. This year’s suc­cess also places us per­fectly to meet the tar­gets laid out in our growth strat­egy.”

In ad­di­tion to strong fi­nan­cial re­sults, Jehu Group has also seen its headcount in­crease by more than 22% in the past 12 months, with the com­pany now em­ploy­ing more than 150 peo­ple.

With fierce com­pe­ti­tion for tal­ent across the sec­tor, the com­pany has worked hard to demon­strate the value it puts on its work­force in or­der to main­tain its high staff re­ten­tion lev­els, im­ple­ment­ing health­care pack­ages as stan­dard to all em­ploy­ees and of­fer­ing com­pet­i­tive salary pack­ages.

Si­mon Jehu, man­ag­ing di­rec­tor of de­vel­op­ment at Jehu Group, said: “Af­ter more than 80 years of trad­ing, Jehu Group con­tin­ues to go from strength to strength and our out­look for the fu­ture is ro­bust.

“While po­lit­i­cal and eco­nomic un­cer­tainty has im­pacted the fi­nan­cial land­scape and pro­vided con­cerns for the con­struc­tion in­dus­try, our bal­ance sheet re­mains strong and sta­ble. We are very ex­cited for the fu­ture of the busi­ness.

“Our fo­cus has al­ways been on grow­ing the com­pany or­gan­i­cally and our plans are to con­tinue to in­vest sig­nif­i­cantly in our prac­tices and work­force, to con­tinue this steady growth, im­prove our ser­vices and cre­ate a sus­tain­able, rep­utable busi­ness that will con­tinue to thrive not just now, but that will be here for at least an­other 80 years to come.”

> From left, man­ag­ing di­rec­tor of de­vel­op­ment Si­mon Jehu, fi­nance and op­er­a­tions di­rec­tor An­drew Lycett, and Marc Jehu, all of Jehu Group

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