RED Construction group reports £170m turnover and senior leadership appointments, as the business continues to achieve sustainable profit
RED Construction Group, the specialist main contractor, has announced its results for the 2025 financial year. Reporting a turnover of £170.8m, the company continues to achieve sustainable profit, with the near 50% turnover increase year-on-year supported by higher pre-tax profit margin.
Across the financial period, from 1st April 2024 to 31st March 2025, RED Construction Group has doubled its pre-tax profits to over £4m, growing the margin from 1.7% to 2.4%, and the company’s cash reserve has substantially increased. The Group continues to demonstrate stability and sustained growth, forecasting a 12% increase in turnover for the next financial year, with more than 90% of that already secured and 50% for the following year.
Key project wins and completions between April 2024 and March 2025 include the London team’s work on the 130,000 sq ft office redevelopment for Tellon Capital at 40 Broadway, the comprehensive refurbishment of 8 Lancelot Place in Knightsbridge for BEAM, the delivery of phase one and appointment on phase two of The Sheppard Trust’s senior living Royal Cambridge Home in Surrey, and the £20.5m office refurbishment to Shoreditch’s Grade II listed building, Curtain House, for Aviva Investors. In the South West, the team carried out Bristol’s prestigious £20m student accommodation development on Moon Street, and completed the £22m Net Zero Carbon Zeal Hotel in Exeter, creating a benchmark for the industry. Zeal Hotel Exeter is one of many hotel projects RED Construction Group facilitated over the period, joining works at the iconic St Pancras Renaissance Hotel and The Tower Hotel, both delivered by the Special Projects team.
Revenue over the next period is planned to stabilise at c. £200m, achieving the company’s aim of a sustainable income and profit whilst embedding a new corporate structure geared towards long term growth. To support that vision, RED Construction Group has this year restructured its senior leadership team, to focus on the group’s strategic and operational growth in the coming years. Continuing to lead strategy is CEO Graham Sturge, whilst Derek Quinn has become COO of the Group, with James Devey to take on his former position leading the South West division. Sam Hewitt moves to Group Commercial Director for the construction business allowing Jon Hayes to assume the wider Group’s CCO role covering all subsidiaries.
Celebrating its 10-year anniversary this month, RED Construction Group has shown consistent, stable growth since its inception, now firmly established across multiple regions and sectors, delivering works on time and on budget in what is an uncertain market.
Graham Sturge, CEO, RED Construction Group, commented: “Almost a decade old, I’m proud that we’ve grown RED Construction Group into a settled and mature business, delivering year-on-year growth through a sustainable and controlled strategy. 2024/25 has been full of fantastic project completions and wins, our £170m turnover alongside increasing our cash reserves further confirms the stability and resilience we offer both clients and sub-contractors.”
“Firmly established in London and the South West, we are now looking further afield into the East of England and the Midlands, organically expanding rather than chasing growth and taking undue risk. Our focus for the coming year, as always, is to continue to support our supply chain partners, manage risk, and grow sustainably, whilst the strengthening of our leadership team will drive the Group’s strategic and operational vision. Our 2024/25 results are robust, and we forecast the next few years to be even stronger.”
Delivering works spanning the hospitality, commercial, office, and student accommodation sectors, RED Construction Group is currently carrying out projects including the refurbishment of Mayfair’s Bruton Place for BEAM, the second phase of The Shepperd Trust’s redevelopment of an independent living facility in Surrey, and Alumno Group’s Hollis Wharf mixed-use development in Bath.