Caddick’s construction arm returns to black but profit at developments business falls by nearly half

The construction arm of West Yorkshire contractor and developer Caddick Group retuned to the black last year, the firm’s recently filed accounts have said.

The division, which also includes a civil engineering business which tends to work mainly for housebuilders, saw pre-tax profit come in at £6.6m on turnover up 21% to £218m.

Its biggest business remains its property development arm with income up 15% to £345m. But pre-tax profit at the division, which works in the residential and industrial sectors, fell to £33m from £64m in the year to August 2023.

Caddick Group also owns a majority stake in the company that owns Leeds Rhinos rugby league club with pre-tax losses at its professional sporting activities arm widening £200,000 to £1.9m. The firm said the increase was down to rising utility costs and reduced income from the television deal to cover Super League.

Overall group turnover at Caddick was up 17% to £575m but pre-tax profit slipped 39% to £35.5m.

Meanwhile, Caddick has appointed Steve Ford as regional managing director for its Yorkshire and North-east business.

The White Rose county is Caddick’s geographical heartland with schemes in Leeds, York and Ferrybridge and Ford arrives from Doncaster property developer Marrico Asset Management where he spent eight years. He also spent a decade at Laing O’Rourke as a project leader.