Bancon Construction builds up £20m in fresh Scottish project wins
Bancon Construction has secured a raft of contracts worth more than £20 million, including “significant” wins with multiple Scottish councils.
The Aberdeenshire construction firm, part of the Bancon Group, has hailed a string of new deals just one month after recording a boost in performance thanks to refocusing its strategy on pursuing “more profitable” work, with a greater focus on margins and cost control.
The recent wins include affordable housing agreements to build 46 units for Albyn Housing at Torbreck, 36 units at Kinmylies for Highland Council and 12 units for Angus Council in the village of Newtyle.
Bancon has also landed a contract to convert the former Inverness College into a major creative hub for the Highlands, on behalf of Workshop & Artists Studio Provision Scotland (Wasps) Studios.
The B-listed Victorian “Midmills” building, which has lain vacant since 2015, will include workspaces for creative industries and cultural social enterprises, exhibitions, events and meeting rooms.
Bancon secured a further deal from Angus Council to replace windows for Arbroath and Carnoustie High Schools, and business with Aberdeenshire Council to carry out alterations to Portlethen Primary School and Fraserburgh Academy.
The firm, which also works across the healthcare, leisure and hotels, retail and industrial and residential property sectors, added that it is currently negotiating additional work with commercial clients.
Gavin Currie, MD of Bancon Construction, said: “These are significant new business wins and we are delighted to be working with both new clients and valued repeat customers.
“Having a strong and open relationship with our clients is essential and we very much look forward to delivering these projects for them as we expand our geographic area of operation.”
Bancon Construction has an annual turnover of £35m and employs around 90 staff.
The contract wins come after the Bancon Group last month unveiled a 400 per cent rise in total pre-tax earnings, building on its return to profit in the previous year.
It said trading performance at its construction division continued to improve, “achieving controlled growth and higher margins” due to a strategy implemented by new management.
The housebuilder and construction group reported pre-tax profits of £780,000 for the year ending 31 March, rising from £151,000 in 2018.