27th August 2019

CONSTRUCTION FIRM HITS RECORD TURNOVER ON BACK OF LANDMARK STUDENT SCHEME

A construction company which works across South Wales and the South West of England has boosted turnover to record levels on the back of a number of significant projects, including a landmark 550-bed student development in Swansea.

In the year to 31 December 2018 Llanelli-headquartered WRW Construction recorded turnover of £60.5m, up from £43.4m in the year prior. Profit before tax rose to £882,000, up from £461,000.

In the current year the company has taken on a number of high-profile contracts for the National Museum of Wales in Cathays Park, Cardiff, and the Museum of Speed at Pendine Sands, Carmarthenshire.

WRW has also taken on housing work for Carmarthenshire County Council, following the end of right-to-buy in Wales and the recommencement of the construction of council homes.

The company, which received backing from alternative finance provider ThinCats in March, is on track to hit a turnover of £70, in the current financial year.

Managing director Jon Williams told Insider: "I want them to be a lot better than that but given conditions, it was the best we could do. I think, good year on year growth with a little on the bottom line is great, which is nice given the sector and all the negativity.

"It's not amazing, it shows it's a low-margin industry but it is nevertheless good to see we're in the black.

"The student scheme in Swansea is nearing completion and that is going a lot of tractions. We've secured a really great scheme with Carmarthenshire council. It's not the biggest bit it's really innovative, the new Museum of Speed down in Pendine.

"Carmarthenshire are long time clients, we've done a few projects with them, especially with social housing as councils can self-deliver again, so it's been a bit of a renaissance with them.

"We've always done a bit, schools normally, but with them broadening their portfolio of assets and spending money across the piece, we've been lucky to secure that project and one of the housing projects now they're building their housing stock up, so that's a really cool project.

"The other project that we started last year is at Custom House in Cardiff, a 248-room Premier Inn Hotel. It's eighteen storeys and it's right next to the railway line. It's going to be clad in this black diamond shape cladding, it's going to look great, and that's going to be a bit of a landmark building for Cardiff as it's about four metres from the railway line into Cardiff Central.

"We've also secured a project with the National Museum for Wales in the civic centre, we're putting a massive tent over the museum, the scaffolding is massive, I've never seen anything like it. The scaffolding is bigger than the building. It's not a big scheme but quite an interesting one."

Insider Media Limited - Josh MorrisDigital Staff Writer

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