Caddick reports £539m turnover as construction arm hits record £375m
The group has marked a 14th consecutive year of profitability despite challenging market conditions for the year ending 31 August 2025.
The group’s construction arm led performance, delivering a record £375m turnover, up 8% year-on-year, alongside £4.5m profit before tax. The division closed the year with £36m in cash, up 10%, and a £1.4bn forward order book, positioning it to target a 4% margin.
Across the wider business, Caddick continued to strengthen its long-term pipeline, expanding strategic land holdings by around 20% to more than 21m sq ft of industrial space and 21,000 new homes.
Civil engineering turnover increased by 17%, while its CCL specialist facades business grew by 37%, driven by strong internal and external demand.
Major project wins during the year included Stone Yard in Birmingham, a 1,000-home build-to-rent scheme for Moda and Aviva Capital Partners, alongside developments for Richardson Barberry in County Durham and Placefirst in Sunderland, reinforcing the group’s presence in the North East.
The business also secured positions on several major frameworks, including Prosper’s £500m New Build Development Framework, Torus’ £224m housing and retrofit framework, and the Department for Education’s £15bn Construction Framework 2025.
Caddick continued to invest in its operations and people, including £600k in civil engineering plant, £500k in refurbishments to its Warrington office, and the opening of a new base in Durham.
The group added 100 employees and 26 apprentices and trainees, while maintaining a strong safety record with an accident frequency rate of 0.08. Its ESG programme delivered £189m in local spend.
Performance was impacted by ongoing industry pressures, including inflation, material cost volatility, and delays linked to the Building Safety Act, alongside legacy losses from earlier projects affected by hyperinflation and subcontractor insolvency.
Within its development arm, the group progressed a number of key industrial and logistics schemes. At Scarborough Business Park, a 178,000 sq ft unit was completed for Schneider Electric alongside multiple land sales, while sites at Knowsley, Altham, Markfield, Pontefract, Leeds Valley Park, and Farington all advanced.
Caddick also made progress on nationally significant schemes at Ferrybridge and Worksop, spanning more than 650 acres, with Worksop securing planning consent for eight units totalling 4.2m sq ft.
Moda Living reported turnover of £125.4m, reflecting the timing of project completions and funding transitions. The platform now operates around 4,500 homes across 11 schemes in major UK cities, with assets valued at more than £2bn, and has more than 1,600 homes under construction in Birmingham and Leeds.
Its single-family rental arm, Casa by Moda, grew to 486 homes under management, while third-party management activity expanded with new mandates in London and Manchester.
Paul Caddick, chairman of the Caddick group of companies, said: “This has been a year that demonstrates the resilience and breadth of the Caddick Group.
“While market conditions remain challenging, the strength of our construction business, the continued maturity of Moda Living and the quality of our I&L and residential pipelines mean we are well positioned for the long term and are well-placed to weather economic uncertainty.
“We remain focused on investing throughout the cycle to create lasting value through high‑quality developments, strong delivery capability and assets that support communities. With a diversified portfolio and a robust balance sheet, we are confident in the group’s ability to continue to progress as market conditions improve.”
Paul Dodsworth, group managing director of Caddick Construction, said: “We are delighted with a year of real progress across Caddick Construction Group. We share in the industry’s headwinds, and we are proud to have maintained a resilient and growing group of businesses despite these challenges.
“Our success is down to the hard work of our people and their wealth of expertise. We are determined to sustainably grow while retaining our reputation for high quality, and this is a vision we share as a team.
“With the Group’s strong short-term visibility and significant medium to long-term potential, the board remains confident that our three-year journey to deliver a consistent 4% margin will be achieved.”
