Andrew Scott Ltd Financial Year 22-23

In the year ended 30th June 2023, Andrew Scott Ltd grew its total revenues by 39% to £73M (2022: £52.5M) and pre-tax profit by 42% to £1.7M (2022: £1.2M).The secured order book at the year-end was £130m, resulting in a forecasted revenue for FY23/24 of around £90M, with a healthy carry over into the next financial year FY24/25. Cash in bank at the end of financial year was £9.7M.

Major contract wins for Andrew Scott Limited during the year included a new £100M manufacturing facility for KLA in Newport, the £36M Old College project for Aberystwyth University and the £25M Pembrokeshire Eco Park.

Andrew Scott Limited employs 266 direct staff and workforce in Wales and nearly 5 times this in local supply chains.

“Mark Bowen, Managing Director, reinforced in the annual report that “throughout this difficult trading period, we have continued to focus on adding value to our clients’ projects, bringing innovation and quality to the fore. The additional resilience provided by our client diversity, the skill and adaptability of our direct workforce and our strong financial position has enabled us to focus on our core strengths and values, contributing to another year of growth.”

Our excellent reputation in Wales and the West, supported by a strong heritage and consistent, dependable quality of work has continued to build amongst our clients in the construction industry and within the wider real estate sector. The company has again strengthened its market position in the period under review by securing, extending and renewing a number of long-term frameworks and contracts. These provide visibility and stability in the order book for the foreseeable future.

Andrew Hoppé, Chairman, said “we are encouraged that the momentum in the business has carried into the first half of the new financial year and our expectations for the full year to June 2024 have now increased. The company has secured over 75% of next year’s revenue (FY24/25) and expected an improved performance across both building and civils infrastructure.”

Andrew Scott’s improved performance has come following the company’s investment in new technology and expanded digitalisation of its cloud based information managing system as well as careful project selection, strong risk management and a combination of pro-active cashflow, prompt final account settlements and timely release of retentions ensuring the company is in a position of financial strength and able to respond to ever changing pressures of geo-political shifts and changing markets within the private and public sectors.

January 2024 will see Andrew Scott take the next step on its transformative and growth journey as it completes its major refurbishment on a new HQ in Swansea after 150 years in Margam. The directors have confirmed that this will be more than just a visual refresh, the refurbishment of Scott House will embody the values and perception we want to portray as Wales’s oldest and leading Construction Company. This will enable us to deliver strong operational and financial performance, against a challenging backdrop of rising energy costs and material prices, and macroeconomic uncertainty. This resilience provides a stable platform to do more for the communities we live and work in, as we continue our journey to Net Zero.


Notes to Editors

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Established in 1870, Andrew Scott Ltd is a long-standing indigenous, building and civil engineering company, successfully delivering sustainable, innovative and high-quality projects for over 150 years to both public and private sector clients. During this time, Andrew Scott Ltd has worked with incredible clients to deliver award winning iconic buildings and civil engineering projects, as well as conserving Britain’s future heritage.