In the year to 31st March 2023, John F Hunt Group turned over 拢157.1m (2022: 拢108.8m) while profit before taxation was up 73% to 拢9.5m (2022: 拢5.5m).
In its 2021 financial year, group turnover was 拢81m.
At the same time, the net worth of the business, as shown in the accounts, has risen from 拢23.4m in 2021 to 拢33.7m last year. It remains privately owned by chairman John Hall, who formed John F Hunt Contracting Ltd in 1982 in Essex, initially specialising in industrial and chemical plant dismantling.
Finance director Ian Saville wrote in the 2023 annual report, filed last week: 鈥淭urnover and overall margin are expected to be maintained for the current year. The directors are confident that the expansion of portfolio services by acquisition, discipline and geographic location will provide significant opportunities for the group in both the construction and nuclear decommissioning sectors.鈥�
The demolition business John F Hunt Ltd grew turnover by 15% to 拢67.3m (2022: 拢58.3m), with pre-tax profit flat at 拢1.6m (2022: 拢1.6m) due to the rising price of concrete and steel. 聽
鈥淭ender levels remain strong with聽 number of major tenders being submitted in 2022/23 resulting in a number of significant contract awards,鈥� the fiancne director said. 鈥淭he company has a significant amount of secured workload heading into 2023/24.鈥�
John F Hunt Regeneration doubled its turnover to 拢79.0m (2022: 拢39.0m) and increased operating profit to 拢6.0m (2022: 拢2.0m).
Hire services contributed 拢13m turnover and asbestos consultancy another 拢5m.
John F Hunt was fined 拢5.6m in March 2023 by the Competition & Markets Authority for collusion and bid rigging. It was one of 10 demolition contractors found to have been rigging the market between 2013 and 2018. That fine was taken as an exceptional charge in the 2021 accounts, in advance of it being officially handed down.
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