Keltbray Built Environment has delivered a major turnaround, posting a £3.2m pre-tax profit last year, a sharp recovery from just £44,000 in the prior year.

Turnover rose 17% to £364m, while gross profit jumped 71% as the business tightened up opportunity selection and improved project delivery through its Integrated Project Model.

The model sees several of Keltbray’s early-stage construction specialist services delivered under one roof, giving clients a single point of accountability and more efficient execution.

A more disciplined bidding strategy also helped boost performance, with the Executive Investment Panel now vetting all new jobs based on margin, risk, and strategic fit – not just turnover.

Cashflow followed suit, with year-end reserves up £5.8m off the back of stronger profit conversion and better working capital management. The division remains debt-free and has access to Keltbray Group’s £30m Metro Bank facility.

Looking ahead, the division has £302m of secured workload going into FY25 and expects to hit £350m revenue. Half-year performance is said to be on track, with further profit growth forecast.

The business will stay focused on technically demanding projects.