Profits and turnover rose at the Caddick Group in the financial year ending August 2022 after it completed a number of major deals and hit several “delivery milestones”.
The group, which includes businesses such as Moda Living, Caddick Developments and Caddick Construction, saw turnover rise 28% to £492m and posted a pre-tax profit of £58m – a 41.8% increase – compared with the previous 12-month period.
On the ‘living’ side of the business, Moda Living delivered three new BTR neighbourhoods during the year including the 515-home Moda, New York Square development at the group’s SOYO site in the heart of Leeds’ cultural quarter, and on the industrial and logistics front Caddick Development signed a series of significant funding deals for major sites in the North West and Yorkshire, including Farington Park in Leyland, Lancashire – a 544,000 sq ft distribution centre.
Johnny Caddick of the Caddick Group (pictured centre) said: “Our focus on living and logistics has proven its resilience and strength through recent years, putting Caddick Group in a strong financial position. Our work to secure a market leading pipeline of opportunities across our sectors has given us the headroom to invest for our future and secure a bright outlook for the group.
“We have a national geographical reach, with projects now on site in the North of England, Scotland, the Midlands and the South. As a privately owned business, we have the flexibility to take decisions quickly and react at speed to evolving market conditions. Our expanding team has worked tirelessly to ensure we are in rude health, giving us the confidence to invest in our future, which is reflected in an expanding pipeline with a GDV approaching £10bn.”
Paul Dodsworth, managing director of Caddick Construction, added: “We’ve had a really strong year, one in which we’ve grown our portfolio, our team and our capabilities. There have undoubtedly been some challenges over the period, but our resilience and agility have enabled us to respond quickly to changes in the market while supporting our valued clients and supply-chain partners along the way.”
