One of Hull’s leading privately owned businesses has posted a strong post-pandemic return.
Sewell Ventures, which covers construction, development, fuel and convenience stores, as well as facilities and estates management, saw turnover back above the £100 million mark for the first time in four years, coming in at £115.8 million for 2021. It had dropped to £84.6 million in the year Covid hit.
The forecourt operations brought in the lion’s share, at £57.1 million, up from £48.2 million, with construction and development at £50.4 million (£28.3 million). Operating profit was up from £1.6 million to £2.1 million, with total profit down from £2 million to £1.6 million.
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In his strategic report accompanying the results, just filed, chair Paul Sewell OBE, said: “The directors are pleased with the underlying trading performance across the Sewell Ventures group of companies during 2021, particularly given the ongoing impact of the Covid-19 pandemic and challenging market conditions in the construction sector.”
A new office in Elland, West Yorkshire,for the Illingworth and Gregory construction arm with the ambition that “the business wishes to build on its growing reputation across the wider Yorkshire region,” was highlighted with “the directors excited by the opportunity on the horizon for 2022 and beyond”.
The Queen’s Award for Enterprise for Promoting Opportunity, Best Companies recognition and stadium naming rights with Hull KR were also flagged.
On construction, health hub and primary school handovers in the home city, as well as a commercial refurbishment in Wakefield and several NHS hospital trust contracts were flagged while “some significant issues on one specific contract” led to a loss for Sewell Construction in 2021. “The performance of all other contracts has given the directors the confidence that this is an isolated issue specific to one project,” Mr Sewell said. “Both businesses entered 2022 with very strong order books and anticipate similar levels of turnover to 2021 with schemes right across the Yorkshire region.”
On fuel and convenience, he said: “Fuel volumes have come back as commuters return to the office and shop customer numbers have remained strong with many continuing to shop local.
“The directors have a proactive strategy towards site acquisitions and new site developments and are excited to continue to grow the business. A further strategic investment property has been acquired in the first half of 2022.”
The £1.8 million deal completed in April for the unspecified location.
Post period, Mr Sewell told how Russia’s invasion of Ukraine had caused significant uncertainty in all sectors, with supply chain availability issues and material price increases. The Geneva Way headquartered group’s ability to trade has not been materially impacted, he added.
Sewell is also closing in on being a direct employer of 500, with the headcount now at 480, up from 466. The company's previous highest turnover was £133 million, recorded in 2013.
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