Post-pandemic workplace revolution and project wins boost figures at Space Solutions
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Posting results for the year ended June 30, the firm said turnover had jumped 42 per cent to £43 million, while profits rose to £1.65m, compared with £380,000 in 2021. It said the strong performance was the result of a “positive year”, during which the business secured several key projects and additional placements on 26 individual public sector frameworks. The group has also completed work for high-profile clients including design and build projects for Insights Dundee and Fife-based Bella & Duke, and refurbishment work aligned to net zero targets at Lochside Avenue in Edinburgh.
Group managing director Jim Mathieson said: “2022 has been one of our most significant years of growth since the business began 25 years ago. Despite the impact of the global pandemic, and the current economic climate, the figures confirm the strength and resilience of our business. It’s clear that workplaces are changing to meet the needs of employees and sustainability targets, and that evolution is reflected in different workspaces being created by our expert teams.
“The increase in turnover has enabled us to continue reinvesting in teams across the business, and I am incredibly proud to see the dedication and hard work of our company’s employees reflected in an excellent set of results.”
The strong performance has enabled the firm to reinvest in the business through team expansions and senior appointments. Earlier this year, the Space FM division appointed a new senior facilities manager position and the team has since secured projects for clients including Queen Margaret University.
Teresa Thomson, director of finance and support services at Space Solutions, added: “This year’s significant profit increase comes as a result of a successful year of new contract wins on the back of our robust business processes. We are now forecasting with similar buoyant figures as we look ahead into next year.”