Engineering business C Spencer Ltd has delivered increased turnover and profits in its latest published accounts.
The company reported turnover of £61.4m in the year ending 31st March 2024, an increase of £3.9m on the previous year.
Pre-tax profits doubled to £3m, from £1.5m the previous year.
C Spencer Ltd trades under the Spencer Group brand and delivers high-quality solutions to complex engineering and construction challenges for its blue-chip client base in the rail, bridges, industrial, infrastructure and energy markets.
During the 2023-24 business year, C Spencer Ltd completed a series of flagship schemes, including award-winning projects to deliver a unique temporary walkway on the listed Connel Bridge near Oban in the Scottish Highlands, and the complete refurbishment and rebuild of the historic Union Chain Bridge, which crosses the border between England and Scotland.
Prestigious contracts currently being delivered by C Spencer Ltd include a £36m project to enhance Tyseley rail maintenance depot in Birmingham, on behalf of West Midlands Trains and Network Rail. The company is also delivering a flagship international project to create a bespoke access system to inspect cables on the new Pattullo Bridge in British Columbia, Canada.
More recently, the business has won a £23m contract to design the site layout and deliver the enabling works and civils for the UK’s first commercial scale liquid air long duration energy storage facility, which is being developed at Trafford Energy Park in Carrington, Manchester.
Charlie Spencer OBE, founder and Executive Chairman of the Hull-based business, said:
“Our latest accounts reflect a very positive performance over the year, despite difficult market conditions.
“There was considerable economic uncertainty during the year, which had a negative impact on investment decisions. Against this backdrop, we continued to secure a healthy pipeline of new work, from both existing and new clients, while delivering projects to an exceptionally high standard.
“More recently we have seen activity start to recover, which is improving confidence in the construction and engineering markets and bodes well for our business going forward.”
C Spencer Ltd entered the current financial year with secured work totalling £79m and a strong pipeline of further opportunities.
