Lindum Group unveils record £5.9m pre-tax profit

Lindum Group’s turnover of £80m has left the Lincoln-based construction group with a record pre-tax profit of £5.9m.

The figures cover the 12 months to 30 November 2006. The previous set of results, covering 2005, showed a profit of £4.6m on turnover of £77m.

David Chambers, chairman, said that the forward orderbook runs to more than eight months of “overhead cover” which he described as being “quite a nice cushion to have” though he warns that the construction market is tightening.

The group started 50 years ago by constructing sewage works, pipelines and foundations. It has since expanded into roads and bridges.

The 500 direct employees are organised into 13 operating divisions. “Rather differently to many of our competitors, in the main we still do most of the work directly, as we did when we started,” said Chambers.

Lindum is owned by its people. There are 400 shareholding employees, with 120 of this number saving on a monthly basis for an increased stake in the group.

Lindum built seven new GP centres in the east of England as part of the NHS’s policy of improving facilities locally. The biggest job last year was a £15m project for a fast-track factory development.

The highest-paid director received £310,000. A further £62,000 went into his pension fund. A second pension pot, to be shared by 480 of the employees, benefited to the tune of £311,000.