Product category:
Building and Site Management
News Release from: OPCO Construction
Edited by the Buildingtalk Editorial
Team on 23 January 2004
OPCO Turnover Up 100% and Surge In
Operating Profi
Opco Ltd, the fast-growing South Wales construction company that was established just two-and-a-half years ago, has unveiled a 100% increase in turnover in the 12 months to August 31, 2003.
The Cardiff-based business headed by Managing Director Nick Kelly and Commercial Director Peter Jones also reports that operating profit for the period increased to £454,735 (£177,486) Mr Kelly said Opco had begun its new financial year with an order book of more than £30m with year-end turnover forecast to top £35m, growing to £40m in 2004-05
This article was originally published on Buildingtalk on 20 Jan 2004 at 8.00am (UK)
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Opco employs more than 70 technical staff and is involved in major residential, commercial and high-tech construction projects in South Wales and the north of England.
Its client base has continued to expand throughout 2003, with the company completing projects for MEPC, Powell Dobson Partnership and Eddershaws Ltd.
The company started on site in Wind Street, Swansea, for developer Newport Holdings where a 116-bed hotel, 3,000 sq m of leisure space and multi-storey car park are being constructed.
Opco has also entered the health market having commenced the construction of sixty beds of medium secure mental health accommodation on two sites in South Wales.
Mr Kelly said, "Importantly we continue to strengthen our relationship with existing customers and in 2003 Opco successfully completed the first and second phase of Westbury Holdings' Century Wharf project.
The third phase is due for completion in February while Opco has also secured the construction contract for the fourth phase of Century Wharf.
"The company's forward order book coupled with a series of advanced discussions currently taking place provides the business us with enormous confidence for its long term," Mr Kelly said The financial year also saw the appointment of James Coombs to Operations Manager and Neil Armstrong as Commercial Manager and the appointment of Stuart Epps as Finance Director.
Peter Jones added, "We have proved that there is room for a new force in the construction industry.
It has always been our belief that good margins can be achieved in the construction sector from the right business mix coupled with the appropriate management disciplines.
"Our growth to date has - by any measure used in the industry - been very encouraging and on the back of this we have been able to provide skilled employment and training for a substantial number of people.".
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