Carey boosts turnover to £140m

Carey, the Wembley-based construction group, has bumped up its annual turnover to £140m, well ahead of last year’s figure of £110m.

Latest results (12 months to 31 March) show pre-tax profit higher at £8.0m (previous year: £6.2m).

The group’s main division, P J Carey, operates as a main contractor in both civils and building construction. The group also has a demolition business (TE Scudder) and a small housebuilding operation (Carey’s New Homes).

The bulk of the group’s turnover stems from work in the UK.

Mainstream civils contracts range in value from £1m to more than £20m, though the majority are in the narrower £3m-£8m band.

Projects in Carey’s building business run from a value of £5m up to £15m, with around a quarter of the workload being design and build.

Carey’s in-house emphasis means that it carries £9m of plant and has 600 operatives, exclusively for its own operations.

Trade creditors are paid, on average, in 45 days (previous year: 45 days).