Category: Corporate
Stepnell has reported a fifth straight year of profit in its year end accounts and an increase in turnover to £112m with turnover projected to hit £140m in the current year.
The contractor says it has fostered this further growth in revenue and profitability in 2026 thanks to its strategic sector focus, targeted geographical coverage, increased activity through frameworks and continued strong delivery on site.
Alongside the opening of a new regional base in Liverpool, Stepnell has also been bolstered by high levels of repeat business, project selectivity and several senior hires.
Tom Wakeford, chief executive at Stepnell, said:
“I am really pleased with where Stepnell is. We are ambitious and are currently focusing on setting longer term plans for the business. The organisation is in a strong position heading into 2026, with 96% of its planned revenue being secured by August’.”
The release of its year end accounts provides Stepnell an opportunity to take stock of its position, Tom added.
“We can rightly be proud of Stepnell’s performance over the most recent reporting period. This ever-improving position is indicative of our ongoing focus in making sure we are the right construction partner for each new scheme we take on, and our experience has shown that the earlier we are engaged on a project, the greater the probability the scheme will be a success for both us and our client.
“We’re proud to say that more than three-quarters of our work is with repeat clients where our previous projects have exceeded their expectations, a key driver being our ongoing focus on delivering excellent engagement.”
Alongside enhanced governance processes that have helped Stepnell mitigate some of the risks associated with current market conditions, the construction firm has also increased its investment in directly owned plant, reducing the cost of its construction operations.
Stepnell’s cash reserves have also increased, reflecting its cross-business focus on ensuring timely payments from clients and improved closure of final accounts.
The recent results are the first following the contractor’s successful demerger in September 2025, which placed chief executive Tom Wakeford and his immediate family in sole ownership of the business.
Tom said:
“Overall, the results are pleasing, 2024/25 has been an opportunity to continue to build on our strong reputation and solid foundations, which provide an exciting opportunity for growth.
“With the demerger completed, positive framework renewals, a significantly improved cash position and a strong pipeline of work, the business is well positioned for the coming years.”
