The firm said that the results show an improvement in underlying profitability, alongside a core focus on business consolidation and building a strong platform for the future.

The company completed 28 projects in the last year, with an average contract value of £16.9m. 

It also had an average headcount of 270.

The results also show a fully secured and robust order book of projects worth £350m for 2024 across multiple sectors including industrial and logistics (I&L), data centres, pharma and life sciences, film and studios, fit out and refurbishment.

Speaking about the latest set of results, Glencar CEO and co-founder Eddie McGillycuddy, said: “Throughout the past 12 months, our focus has been on consolidation and building a strong platform for the future.

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“This has included substantial investments across the company, most notably in our people, working environments, ESG, processes and our operating platform.

“Our commitment to doing the right kind of work has resulted in better delivery and improved profit margins.

“A key indicator of our success is the remarkable increase in high levels of repeat business, which now account for 65% of our turnover, compared to 40% last year.

“This growth is indicative of our dedication to cultivating long-term customer partnerships.

“To ensure sustained growth and efficiency, we have undertaken significant ongoing investment in our head office and core business support functions.

“We have positioned ourselves within the market to take on upcoming opportunities with the availability and mobility of the right people and teams.”

Chris Gleave, director and co-founder of Glencar, added: “With an order book of £350m already secured for 2024 we look forward to another encouraging year of growth to come.”