Hughes and Salvidge has reported turnover of £51.0 million for the financial year ended 31 March 2026, alongside an operating profit of £1.3 million and a strengthened balance sheet.
The results highlighted here relate to Hughes and Salvidge Limited, the principal trading company within the wider Hughes and Salvidge Group. At Group level, the consolidated accounts include £1.5m of goodwill amortisation, resulting in a reported loss after tax of £0.3m.
Resilient performance in a challenging market
For the year ended 31 March 2026, Hughes and Salvidge Limited generated turnover of £51.0 million, compared with £54.5 million in the previous financial year. The reduction in turnover reflected a strategic decision to remain selective in the work undertaken, with a continued focus on project quality and profitability.
Gross profit was £8.4 million, representing a gross margin of 16.5%, compared with 19.2% in the prior year. Against this backdrop, a continued focus on cost management saw administrative expenses reduce by approximately £0.8 million year-on-year, from £7.9 million to £7.1 million.
The business consequently delivered an operating profit of £1.3 million and a profit before tax of £1.25 million. Profit after tax for the year was £1.07 million.
The performance reflects a year in which the construction sector continued to face economic uncertainty, while Hughes and Salvidge maintained its focus on operational discipline, selective project management and careful financial management.
Stronger net asset position
Alongside continued profitability, Hughes and Salvidge Limited strengthened its net asset position during the year.
Net assets increased to £12.3 million, up approximately £1.4 million from £10.9 million at the end of the previous financial year.
The company continues to maintain established relationships with its banking and finance partners, while retaining minimal institutional debt exposure.
Secured work provides a platform for future growth
Looking ahead, Hughes and Salvidge enters the new financial year with a number of significant contracts continuing beyond the March 2026 year end, alongside new contracts secured during the year.
The business continues to pursue opportunities across the UK while developing its international presence. During the period, Hughes and Salvidge continued its work in Portugal following previous project activity in Saudi Arabia, while also tendering for further overseas opportunities.
This combination of ongoing major projects, secured future work and a developing pipeline provides the business with a strong platform from which to pursue its strategy of sustainable and profitable growth.
Focused on long-term, sustainable growth
Hughes and Salvidge’s strategy remains centred on profitable growth in its core UK market, increasing market share and selectively expanding into international territories.
Underpinning that strategy is a continued focus on safe and efficient project delivery, strong customer and supplier relationships, investment in its people and disciplined financial management.
With a strengthened net asset position, significant projects continuing into the new financial year and further secured and prospective work in the pipeline, Hughes and Salvidge remains focused on building on its long-standing position within the demolition industry and delivering profitable and sustainable growth over the years ahead.
