Stepnell has recorded its fifth consecutive year of profit, with turnover rising to £112 million and expected to reach £140 million in the current financial year. The construction firm attributes this sustained performance to disciplined sector targeting, regional expansion, and its participation in framework projects.
The company recently established a new regional base in Liverpool to strengthen its presence across the North West. It has also benefited from high levels of repeat business and selective bidding, supported by several senior appointments and refined governance processes designed to manage risks in a volatile construction market.
Stepnell has increased its investment in directly owned plant, helping to reduce operational costs and improve delivery efficiency. Its cash reserves have also grown due to stronger financial management, including tighter payment controls and account closures.
Tom Wakeford, chief executive at Stepnell, said:
“I am really pleased with where Stepnell is. We are ambitious and are currently focusing on setting longer term plans for the business. The organisation is in a strong position heading into 2026, with 96% of its planned revenue being secured by August.”
The release of its year-end accounts provides Stepnell an opportunity to take stock of its position, Tom added.
“We can rightly be proud of Stepnell’s performance over the most recent reporting period. This ever-improving position is indicative of our ongoing focus in making sure we are the right construction partner for each new scheme we take on, and our experience has shown that the earlier we are engaged on a project, the greater the probability the scheme will be a success for both us and our client.
“We’re proud to say that more than three-quarters of our work is with repeat clients where our previous projects have exceeded their expectations, a key driver being our ongoing focus on delivering excellent engagement.”
These results mark Stepnell’s first full year of trading since its demerger in September 2025, which transferred the business to Wakeford and his family. The company remains focused on steady expansion, improved profitability, and maintaining financial resilience as it moves into the next financial cycle.
