Demolition contractor Colemans’ revenue has risen to its highest level in eight years, despite the firm previously stating that it was prioritising profit over scale.
The Birmingham-headquartered business turned over nearly £31m in the year to 30 April 2025, newly published accounts show.
This was up from £20.5m in the year to 30 April 2024 and is the highest level since 2017, when it was known as Coleman & Company and recorded a £32.9m haul.
The 51 per cent increase in turnover for the year was almost matched in percentage terms by a 46 per cent jump in pre-tax profit, which rose from £2.4m to £3.5m.
However, the firm cautioned in the accounts that some of the revenue boost was due to the successful completion of previously deferred contracts and that it had also delivered “a number of client-instructed changes”. These are non-recurring, but show the company’s “ability to respond effectively to evolving client requirements, while maintaining high standards of quality and control”, it said.
In a statement published with the accounts, chief executive Mark Coleman said the specialist contractor was concentrating on delivering projects in the Midlands and London.
Colemans is “driving certainty for clients through value-led solutions rather than the race to the bottom, which is characterised by low margins and high-risk contracting, where understanding how to deliver on contracted commitments is an afterthought,” he said.
“These behaviours continue to plague our industry and remain entirely unsustainable,” he added.
“In contrast, our activities are driven firstly by delivering a profitable performance and then focused on the scale of the turnover. We focus on being value-led, efficient and dependable rather than with an obsession for scale.
“We can do this because we understand our own value proposition and strive to deliver projects that are aligned with it.”
Last summer, after the period covered by the accounts, contracts manager Mark Carless, who worked for the firm for 40 years, retired from the company.
Around the same time, board members Gordon Blaszczak and Gareth Rowe became the first non-family shareholders in the company’s 63-year history.
Meanwhile, February 2026 marked a decade since four of the firm’s employees died during the demolition of Didcot Power Station.
Last year, Thames Valley Police said it hoped that its joint investigation of the incident with the Health and Safety Executive would be completed by the end of 2026.
Investigators have previously said that they are looking into potential corporate manslaughter offences, gross negligence manslaughter and serious breaches of the Health and Safety Act.
In its latest accounts, Colemans included a statement repeated annually regarding the incident.
“Based upon rigorous inquiries undertaken by independent specialists and on professional advice, the directors do not believe the company is responsible for the cause of the incident,” it said.
The statement added that it was “totally impracticable” to estimate any financial liability that might arise for the company regarding the incident, but that it had adequate insurance cover “should any liability attach”.
