BDC

Search
BDC Magazine

tom wakeford

STEPNELL REPORTS POSITIVE GROWTH AND STRONG START TO Q1

CONSTRUCTION company Stepnell says that after a year of consolidation and planned improvement, the contractor has experienced a strong start to the financial year with a good level of orders secured for 2021/22 across its regions. The complete construction partner has reported a turnover of £104 million and increased net

Read More »

Latest Issue

BDC 319 : Aug 2024

tom wakeford

STEPNELL REPORTS POSITIVE GROWTH AND STRONG START TO Q1

CONSTRUCTION company Stepnell says that after a year of consolidation and planned improvement, the contractor has experienced a strong start to the financial year with a good level of orders secured for 2021/22 across its regions. The complete construction partner has reported a turnover of £104 million and increased net assets of more than £16 million for the year ended 31 March 2021 – with a net profit of £1 million – providing a solid foundation for the company going forward which compares favourably to other construction businesses alike. Tom Wakeford, joint managing director at Stepnell Ltd, said: “2020 was an extremely challenging year for many businesses, particularly for those in the construction industry. The year was dominated by the emergence of the global Covid-19 pandemic and economic uncertainties associated with Brexit. “Stepnell was one of a handful of contractors to continue on site throughout lockdown and the commitment of our employees and our supply chain relationships was fundamental – we were able to source materials and sub-contractor support across our projects. Our results reflect our decision to work with our clients through the pandemic which was a great achievement.” The family-owned firm increased its Net Promoter Score, which is used to assess performance and help measure client satisfaction, to +45 in May 2021, showing that the company is performing well above average and is committed to delivering the best service to its clients. Tom added: “We are delighted to have increased our NPS to +45 which is rated as ‘good.’ This is a tremendous performance and enormous credit to our employees and the companies we work with and is a great achievement, particularly in the current climate.” Stepnell has secured a number of exciting project wins and its current projects are performing well, including Stepnell Park – a new £10m business park adjacent to Stepnell’s head office in Rugby – which is now substantially let. Stepnell has also recently secured work at a number of hospitals including five schemes for Royal Berkshire Hospital, refurbishment works for Northampton Hospital and building works for Salisbury NHS Foundation Trust, as well as starting on site at £9.7m retirement build Wooburn Green for Lifestory Group. The contractor has also recently secured a number of other healthcare wins and has started on site at two significant care home projects, including £6.5 million care facility Bennett Drive Care Home for repeat client Cinnamon Care and £4.3m refurbishment project to the existing Town Thorns care centre for Motor and Allied Trades Benevolent Fund, both located in the Midlands. They have also been been appointed to build a £9m grade A office building for repeat client MHR as well as a new £2.5m refurbishment centre for National Grid in Leicester. Tom added: “Stepnell has secured orders which will enable it to deliver sales in excess of £100m during 2021/22, in line with our current business plan. The company has started the current financial year with an excellent level of secured work – circa 85% of the planned workload for the year – which we are really pleased with.” The 154-year old firm, which operates across central and southern England with a three-region model, prides itself on its unique complete construction partner approach offering a wide range of services including detailed risk management and partnership during pre-construction to work with its clients to solve the problems before they occur. Tom added: “We pride ourselves on our ability to be involved early in projects, to provide an end-to-end service where we can understand our clients’ objectives, offer enhanced solutions and work with them to achieve the best outcome. “Despite the challenges of the global pandemic and the uncertainty of Brexit, our focus upon service to our clients is the cornerstone of our business. The continuation of this ethos across the business has led to the majority of the work which has been secured for 2021/22 in respect of which we anticipate a similar level of turnover to 2020/21. “All of our regional teams have been working incredibly hard to secure new project wins and ensure that we emerge from this pandemic as best as we can. Stepnell has a more diversified range of projects than ever before, with the group also having the benefit of a property portfolio of more than £40m. “With our stable business model and continuing our selective approach to tendering for construction projects – to which its skill base is best suited and where terms and conditions do not impose unacceptable levels of construction risk – we are confident of our position to withstand market risks and continue our upward trajectory.” To find out more about Stepnell visit: www.stepnell.co.uk or join the conversation at @Stepnellltd. 

Read More »

CONSTRUCTION SECTOR NEEDS TO MAINTAIN NEW TECHNIQUES ADOPTED IN PANDEMIC TO ENSURE IMPROVEMENTS, SAYS STEPNELL BOSS

The UK construction sector was heavily impacted by the disruption caused by the COVID-19 outbreak. Tactics, which were speedily adopted by the industry to keep sites open, will no doubt continue post pandemic. TOM WAKEFORD, joint managing director of 154-year-old family firm Stepnell, which operates throughout central and southern England, says the industry needs to work collaboratively to keep the recovery juggernaut on track. “’Build, build, build!’ was the rallying cry last June. Prime Minister Boris Johnson announced a new deal to put infrastructure at the heart of the government’s economic growth strategy. Johnson said he was committed to build, build, build – in order to fix not just problems created by the pandemic, but issues that the UK had experienced for three decades. “Johnson said he was committed to building new homes, fixing the NHS and tackling the skills crisis – as well as mending the gap in opportunity, productivity and connectivity between the regions of the UK. All the time, the construction industry needed to build back better, greener and faster. “Seen by many then as the industry to help lift the UK out of economic gloom, construction is vitally important to the UK’s recovery. In December, the government issued its Construction Playbook – a blueprint of how the government saw local authorities working more closely with the construction sector. It came at the right time and is being adopted by thousands of organisations across the UK – Stepnell included. “Looking back to March 2020, COVID-19’s impact was immediate. Within a few days of lockdown, remote working was the norm. For some contractors, work on site stopped overnight – and the construction sector stood blinking as companies took in the huge catastrophe before them. “But, despite not being able to assess the future, the construction sector did what it always did – rolled up its sleeves and got on with the job in hand. Projects usually delivered from the board room were now being designed in people’s living rooms and kitchens, which meant contractors looked for new ways of working to ensure projects kept on track. “Alongside government support through furlough and other initiatives, there was stronger collaboration among contractors, supply chain and agencies. This unity meant a camaraderie and a strong sense of everyone having their part to play to achieve the common goal of delivering projects and keeping sites open. “Many contractors, including Stepnell, continued to work on site – and very quickly adapted to new ways of working to ensure colleagues’ safety. “By their very nature, contractors are agile, with their number one role being a problem solver for clients. This agility enabled us to swiftly adjust to solve a very different set of problems during lockdown one in 2020. As an industry, we moved at speed to meet clients’ expectations and we worked closely with clients to manage risk, ensure project delivery and overcome the many hurdles COVID-19 presented together. With our clients, we focused not just on project delivery, but also health and safety and wellbeing. “We also turned to managing our projects in an even more innovative way – using digital technologies and closely looking at new ways of working in order to achieve the results we needed. As well as taking a ‘partnership’ approach with clients, we also worked even closer with our supply chains. Again, working in partnership with supply chain partners, we were able to pay suppliers as early as possible and work together to achieve the results we collectively needed. “Stepnell had a flexible supply chain, which could also adapt quickly to demand. This, like many other factors we have adopted because of the pandemic, will be in place post-pandemic. The ‘not just for COVID’ approach means that the industry will continue to look at new technologies such as cloud working. The industry was way behind in terms of new technologies prior to COVID-19 – one of the positive things to come out of the pandemic for me is to see how crucial we view technology in the long term. “And of course, the pandemic has highlighted an issue that has been present in the construction industry for years – colleague wellbeing. Before the pandemic, the industry already had above average rates of divorce and suicide. Colleague mental health is something which became even more of an issue in 2020 – and will no doubt need to remain a focus for the industry once the worst of the pandemic is over. “On a positive note, the industry could potentially use the recent changes to ways of working to diversify its workforce. The pandemic has plunged the industry into the quickest and deepest possible experiment in flexible working — which has proved to be a success. “Not only that, but the construction industry was in the news during the first part of lockdown – not always for the right reasons as the public could see working sites when others had to stay away from workplaces. But the news pages highlighted construction and the way it was adapting, as well as new technologies. Construction companies’ ability to adapt to these changes, and so quickly, could make the industry more accessible and attractive to a wider talent pool – including young people. “Another key factor I see is the real importance of social value. Something that may have been seen as an exercise to tick boxes and score points against competitors pre-pandemic has been brought to the forefront during COVID-19 to show the genuine benefit to communities which our construction projects can bring. Whether that’s sandwiches for construction workers from a local café which has been closed for months or CSR projects to engage with local schools, which were also forced to lock their doors. “Continuing to bring young people into the industry is crucial. Stepnell has 14% of our workforce as trainees and apprentices – we see opportunities to give young people (an age bracket affected by the pandemic like no other) a great opportunity in a fantastic rewarding

Read More »