Bolton developer Seddon sees profits double to £5.1m

Builder and developer Seddon managed to double its profits last year.

The Bolton-based firm’s pre-tax profits hit £5.1m in the 12 months to December 31 2016, up from £2.5m the year previous.

Turnover rose from £171.8m in 2015 to £209.9m, an increase of 22.1%.

Seddon’s construction arm accounted for a £152.3m slice of the company’s overall revenues, with a profit of £1m before tax.

Jonathan Seddon, the firm’s group chief executive, commented: “We’re obviously delighted that Seddon’s construction division has returned to profit following a challenging few years for the industry.

“What’s even more pleasing is we’re seeing the benefits of structural changes, in particular empowering our regional directors and the influence of managing director, Peter Jackson.”

The company said the improved financial results are reflective of a number of “major” changes made in the last two years.

In March this year, chief operating officer Peter Jackson was promoted to the role of managing director for Seddon Construction. Former MD Jonathan Seddon became chairman, in addition to his role as chief exec.

Speaking further, Jonathan said: “These results are a vindication of Seddon’s emphasis on investing in customer relationships and our people, in the North West and beyond, and we will continue to seek to develop repeat custom from long-term partnerships.”

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