Winvic Anticipates Nearly £1bn Revenue Next Year

A Winvic worker on a construction site Leading main contractor Winvic Construction Ltd is projecting a revenue growth of nearly 50% this year, due to booming orders, building up an order book worth £1.35bn.

Managing director Simon Girardier said the outlook for this year was now ‘very positive’ with revenue predicted to soar to a record £985m, with the growth primarily coming from an increase in project size in all its key markets as opposed to a significant number of individual projects.

Unveiling strong results for the year to January 2021, he explained Winvic rode out Covid delivering pre-tax profit up 48% to nearly £14m from revenue marginally down at £659m from £686m previously. This fall came from approximately £60m worth of projects being delayed or suspended, due to Covid-related measures put in place.

Over the year their headcount increased by 11% to 373 employees, with Winvic taking £465,000 from the Government’s job retention scheme to support furloughed staff.

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Their average project values continued to rise due to the increasing demand for complex MHE, sortation and temperature controlled requirements with online retail and food storage facilities, and last-mile delivery and fulfilment centres.

Girardier said their forward order book was also strong in this sector, with over 3,500 beds under construction, guaranteeing turnover through to 2024.

He said the civils and infrastructure business has strengthened its standing in the last year, acquiring six major schemes, which involve two freeport rail terminals and four complex bridge structures. Winvic has also secured its first contract directly with National Highways at A5 Hinckley, where they will be constructing a new roundabout for a new logistics park.

“This puts us in a strong position to focus on opportunities presented within public sector frameworks in the year ahead and future pipeline opportunities,” says Girardier.

“We are aiming for steady growth over the next four years by securing work with key public sector clients like National Highways, Network Rail, local highways authorities and the Environment Agency.”