Family-owned WRW Construction has reported a big surge in revenues with its trading outlook in rude health.
With its headquarters in Llanelli and offices in Cardiff and Bristol, the firm has reported record revenues exceeding £60.4m for its 2018 financial year - up from £43m a year earlier.
The contractor and developer also saw its pre-tax profit rise for the year up from £461,120 in 2017 to £881,694.
Its headcount during the year rose from 111 to 127.
To support its growth plans WRW recently secured a multi-million pound funding boost from alternative lender ThinCats, in a deal brokered by Cardiff-based corporate advisory firm Gambit.
The firm is currently involved in projects from Aberystywth to Plymouth.
Managing director, Jon Williams, said: “We are pleased with the 2018 financial results and optimistic for the company’s potential and ambitions for growth, whilst mindful of the challenges the industry currently faces in an uncertain economic climate.
“We are experiencing unprecedented tender enquiry levels at present, which is testament to the hard work of our staff and the continued support from our valued stakeholders.
"We are very proud of the amount of repeat work we are generating, and looking ahead, we can see continued sustainable growth with a solid order book for 2020 and the coming years.
“To facilitate this growth, in March we partnered with the alternative lender ThinCats which provided our working capital and growth ambitions during a very challenging time for the industry. I believe this partnership will stand the company in good stead for many years.”
On the current financial year WRW Construction's finance director, Alex Jenkins said: “Our turnover is already booked at £34m, and we’re largely on track to hit our forecast of £70m this year, as per our business plan.
“When considered against the backdrop of an increasingly difficult and uncertain time for the economy, which has had a significant impact on the construction sector, the figures in our half-yearly management accounts are positive.”
Its current portfolio includes the £7m new Pendine Tourism Attractor Project, being built for longstanding client Carmarthenshire County Council.
In the centre of Cardiff is it undertaking the £22m redevelopment of Custom House to provide the new 18-storey Premier Inn Hotel and restaurant on behalf of development firm Barola.
The 248-bed scheme will also include a 200 cover Bar and Block Steakhouse on the ground floor.
It also delivering a new 225 bedroom student residence on Dean Street in Bristol. The development will provide self-contained studio rooms together with a variety of communal study spaces, office, gym, and café.
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