William Hare Group witnessed substantial financial growth last year, showcasing a significant increase in turnover and a return to profitability.
- The company’s turnover soared by 27%, reaching £315.5 million in 2023, a notable rise from £248.3 million in the previous year.
- After two consecutive years of losses, the firm achieved a pre-tax profit of £4.3 million, marking a significant financial turnaround.
- Sue Hodgkiss, the chief executive, attributes this success to both domestic expansion and a resurgence in international markets.
- Director Matthew Nesbit expressed optimism for the future, citing a well-diversified order book and strategic financial management.
Structural steelwork specialist William Hare reported significant financial growth in the year ending 31st December 2023. The company’s turnover increased by a remarkable 27%, reaching £315.5 million, as compared to £248.3 million in 2022. This growth comes as a relief following two years of financial losses, with the firm posting a pre-tax profit of £4.3 million in 2023.
The improvement in financial performance is evident in the company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda), which showed a marked increase to £9.8 million from £3.4 million in 2022 and £1.9 million in 2021. These figures underscore the robust financial health and operational efficiency that William Hare has cultivated over recent years.
Sue Hodgkiss, who has helmed the William Hare Group for decades as chief executive, expressed her satisfaction with the company’s recent financial achievements. She attributed the success to the dedication of their skilled workforce and highlighted the resurgence in international markets as a driving force behind the strong performance. Furthermore, Hodgkiss noted the company’s growing stature as a leading steel engineering specialist globally, a status bolstered by a sound and prudent financial approach that has strengthened the firm’s balance sheet.
Director Matthew Nesbit echoed these sentiments, recognising the hard work put forth by the company to maintain its industry-leading position amidst challenging conditions, which included inflationary pressures and project delays. He emphasized the strength of the company’s order book, describing it as the most robust in the company’s history, which gives them a positive outlook for future operations.
William Hare Group’s financial recovery and growth reflect strategic management and an expanding market presence.
