Daniel Contractors: turnover leaps to £240m

Daniel Contractors has continued to grow at a rapid rate of knots, the group’s latest £240m turnover being well ahead of the previous figure of £150m.

Daniel has today published annual results covering the 12 months to 30 September 2007.

Pre-tax profit more than doubled to £2.8m (figure in previous year: £1.2m).

Daniel has grown rapidly thanks to its acquisition of fellow pipeline constructor Lawrence 18 months ago.

More recently, in November 2007, Daniel snapped up Pipeway Holdings in a push for further growth.

The group’s core skills are water and gas mains refurbishment, pipeline maintenance and leakage detection, a well as cable and duct laying.

The number of employees started the year at 960 and rose to a figure of 1,100 by the end of the period.

The latest bill for wages and salaries ran to £53m and there was a further £310,000 by way of pension costs.

The surge in profitability helped the highest-paid director a much-enhanced pay. His take-home in 2007 ran to £540,000, well ahead of the £170,000 figure in the previous year.

The Walter Lawrence Civil and Mechanical Ltd deal came on board with a goodwill figure of £2.3m.