After follow firm, which made up three-quarters of its function, Stepnell’s revenue has more than doubled.
The contractor’s pre-tax earnings for the year ended March 2026 was more than twice the amount it had previously reported.
According to chief administrative Tom Wakeford, Stepnell’s concentrate on working with existing customers and public-sector structures was responsible for its growth.
In the agency’s investigated records, he stated that “our business models have continued to deliver high-quality finished products with increased control and consistency of program, which is evident in 75 % of our work becoming repeat business.
Stepnell, a family-owned business, increased by £112,8 million to £115,3 million, and it is expected to increase by another 20 % this year, Wakeford said.
According to him,” this has been driven by customer need that has expanded our geographic coverage and continued to support our careful job selection,” Stepnell continued, noting that Stepnell had been relying on client relationship early.
The business increased its pre-tax margin from 0. 9 % to 1. 9 %.
The demerged business worked with clients to “enable the jobs to be delivered by fair budgeting, fast problem-solving, and clear understanding of danger delivering certainty to all stakeholders,” according to Wakeford.
Although some of Stepnell’s projects saw price increases, Wakeford claimed his company was able to control those increases through long-term partnerships with the supply chain and timely payment payments from its suppliers.
The contractor paid 59 % of its invoices in the 30- to 60-dαy period anḑ 37 % of its iȵvoices in tⱨe six months to March 2026, αccording tσ Stepnell’s online payment data, ωhich included payments oƒ 37 % anḑ 59 %.
In more than 60 days, it paid 4 percent of its invoices.
Stepnell expanded throughout the year, opening its revamped and expanded office in Rugby and opening a bigger office in Bristol months later.
Following the opening of a new office in Liverpool, it also received positions on “targeted frameworks” in the north-west of England.
The contractor’s cash more than doubled, from £8. 9 million to £20. 9 million, and it had no overdrafts or bank loans.
Compared to the previous year, the company received a dividend of £16. 7 million.
Stepnell’s provisions regarding “potential liabilities” arising from latent defects in recent years ‘ work increased in value by 50 %, from £300,000 to £450,000.
The company stated in its accounts that any related claims ‘ ultimate cost and timing were “inherently uncertain. “
