Construction labour supply firm VGC reported a significant 20% growth in 2023, primarily driven by contracts related to the HS2 project.
- VGC’s turnover reached £128 million, up from £107.1 million in the previous year, although pre-tax profits slightly declined.
- Ciara Pryce, VGC’s Chief Operating Officer, highlighted the company’s focus on social value by employing local workers for regional projects.
- The firm’s strategic expansion includes opening new regional offices to support its growth and enhance local recruitment efforts.
- Plans for a new office in Scotland in 2024 aim to further bolster VGC’s regional focus and support its long-term strategy.
The construction labour supply firm VGC has reported a notable 20% increase in its turnover for 2023, achieving £128 million compared to £107.1 million in 2022. This growth is primarily attributed to the ongoing contracts that the company holds for labour supply on the High Speed 2 (HS2) project. According to Ciara Pryce, the company’s Chief Operating Officer, this has been a significant contributing factor to their success.
Despite the increase in turnover, VGC’s pre-tax profit experienced a slight dip, amounting to £4.2 million down from £4.9 million in the previous year. The company has been proactively addressing its future beyond HS2 by emphasizing its commitment to delivering social value. This involves providing local personnel to projects, which supports the company’s strategy to positively impact the areas they operate in.
As part of this strategic approach, VGC has been investing in regional offices to support its geographical plans. New offices have been established in Warrington, Lowestoft, Manchester, and Farringdon, adding to their existing presence in cities such as Plymouth, Solihull, Newcastle, Cumbria, East London, and Ruislip. These additions bolster the company’s capacity to supply personnel across the UK.
Looking ahead, VGC is planning further expansion with a new office in Scotland slated for 2024. This move is expected to accelerate their regional growth and enable local recruitment to fill both contract and permanent roles more effectively. Pryce emphasizes that this local recruitment initiative aligns with VGC’s policy of enhancing social impact within communities involved in infrastructure projects.
VGC’s proactive regional strategies and emphasis on local recruitment continue to fortify its position in the construction industry, ensuring sustained growth and social value contribution beyond the HS2 project.
