Dawson Wam, the civil engineering and piling specialist, has demonstrated remarkable financial growth for the year 2023.
- The company’s pre-tax profit surged to £8.9 million compared to the previous year’s £4.5 million, marking significant progress.
- Turnover also increased, reaching £52.7 million, further underpinning the company’s robust performance.
- Employee numbers rose by 22%, reflecting Dawson Wam’s expansion and commitment to growth.
- Dawson Wam has adeptly navigated post-Brexit challenges, focusing on diversification amid economic uncertainty.
In a demonstration of financial strength, Dawson Wam’s pre-tax profit nearly doubled to £8.9 million in 2023, from £4.5 million in the previous year. This achievement was accompanied by a notable rise in turnover, which increased from £46.4 million in 2022 to £52.7 million. Such figures not only underline the company’s solid financial grounding but also indicate a successful year in its operations.
The growth story is not limited to financial figures alone; Dawson Wam also expanded its workforce significantly. The number of employees jumped 22% from 92 to 112, a move that resulted in payroll costs rising 35% to £7.4 million. This expansion underscores the company’s proactive approach to scaling its operations and meeting increased demand.
Owner Dennis Mcgall, aged 77, received dividends amounting to £300,000, reflecting the company’s strong performance. Notably, the 2023 accounts did not address the Northern Ireland Protocol, despite previous disruptions reported post-Brexit due to differing trading laws applicable to Northern Ireland. The absence of such mentions suggests that Dawson Wam has adeptly adjusted to the new regulatory environment.
Despite robust financial results, the company’s 2023 accounts identified economic uncertainty as the principal risk. To counteract this, Dawson Wam has pursued diversification, endeavouring to expand across various markets and disciplines throughout the UK. McGall highlighted this strategy as a means of mitigating risk and capturing new opportunities.
The company’s headquarters are situated in Belfast, with a registered office in Bedfordshire, which positions it strategically to manage operations across the UK. This geographical presence, coupled with its diversified approach, strengthens its resilience against fluctuating market conditions.
In 2023, Dawson Wam’s strategic diversification and robust financial results underscore its adaptability and foresight amid challenging conditions.
