DOWNING TURNOVER PASSES £60M
Liverpool City Region headquartered construction specialists Downing are starting 2019 in an “extremely strong position” after performing well during the difficult global economic conditions of the last tax year.
Established in 1999, Downing Construction works across a variety of developments in the residential, refurbishment, student accommodation and education sectors.
For the latest tax year, George Downing Construction Ltd has reported turnover of £62.4m compared to £54.4m the prior period.
The company completed work on several projects during the year, while a number of schemes have also commenced part-way through the current period, including Leeds Beckett University’s Creative Arts Building and Coventry Phase Two.
In a strategic report accompanying the results, Downing noted that it had performed well in what continued to be “difficult economic conditions for contractors”.
Ian Orton, managing director at Downing Construction said: “As these positive results indicate, the business is in an extremely strong position.
“Our team is successfully delivering major projects in key cities across the UK and we have a solid pipeline of high-value secured contracts in place alongside an experienced and well-established team.
“Downing Construction continues to actively recruit at all levels and we look forward to ongoing growth.
In August Downing expressed a believe that their success will further continue, with turnover expected to pass the £100m mark in 2018/19 for the first time.
This news comes after the company secured work on two major new schemes; a mixed-use student development at Miles Street in London’s Vauxhall and an 800-plus bed student scheme at River Street in Manchester, together worth more than £140m.