United Living, a prominent player in the UK construction industry, has recently announced a remarkable increase in revenue and profit, indicating a robust financial performance that sets the stage for potential acquisitions. This development comes on the heels of their acquisition by the US private equity firm, Apollo, and highlights the firm's strategic growth trajectory.
Financial Highlights
For the fiscal year ending 31 March 2023, United Living reported a substantial 22% increase in income, reaching £534 million. More impressively, the company's profit before tax soared by 237%, amounting to £29 million. These figures represent a significant financial upturn for the Kent-based business, underscoring its operational efficiency and market resilience.
Company's Evolution
Originating in the 1960s as a central heating specialist, United Living has expanded its expertise over the decades. The company now operates in new homes construction, infrastructure, and property services. With a robust workforce of 1,100 employees, United Living has become a major name in the UK construction sector.
Order Book and Contracts
United Living's growth is further evidenced by the expansion of its committed orders in all business segments. As of 31 March, the company's secured order book reached an impressive £3 billion. Notable new contracts signed during this period include a £460 million deal with Clarion, a £300 million agreement with L&Q, and a £144 million contract with the Northumbrian Water Group, collectively worth £1.7 billion.
Growth and Future Prospects
Neil Armstrong, the Chairman and Chief Executive of United Living, emphasised the numerous growth opportunities in infrastructure. These include network upgrades, new infrastructure for hydrogen and carbon capture, utilisation and storage, and the decarbonisation of heat. Armstrong also pointed out the increasing demand for property services and new, affordable homes, driven by new regulatory requirements and government targets.
Armstrong expressed confidence in the company's ability to maintain strong organic growth and pursue value-adding strategic acquisitions. This forward-looking approach positions United Living as a key player in meeting the evolving needs of the UK's construction and infrastructure sectors.
Our Role at Find A Start
At Find A Start, we recognise the significance of such developments in the construction industry. Our platform is designed to bridge the gap between contractors and tradespeople, offering an efficient solution for companies like United Living to find skilled workers swiftly. As United Living explores avenues for growth and acquisition, our service stands ready to support their needs, ensuring a steady supply of proficient tradespeople for their expanding projects.
For more information about how Find A Start can facilitate connections within the construction industry, visit our website at www.findastart.co.uk.
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