Family-owned contractor Andrew Scott delivered 15% revenue growth to £84m generating a big profit uplift to £5.2m from £1.7m in the prior year.

The improvement was driven by long-term contracts and frameworks supported by strong risk management.

Andrew Hoppé, chairman, said: “The resilience afforded by our strategic approach, and our aim to ensure that we do not take on any undue risk and continue to carefully consider and evaluate the deliverability of every new project has enabled us to produce an exceptional set of results.

“Our solid balance sheet has allowed the company to grow turnover and profitability to record levels while maintaining a very healthy cash balance.

“We are now seeing a further shift in customer mindset from `lowest bid` to `best quality` with additional scrutiny placed on bidder financial robustness.”

He said the firm, which was established back in 1870, had also secured a record order book over the year and was forecasting revenue hitting around £90m this year.

Success in 2024 included inclusion on all five big Welsh frameworks, including the NHS Building For Wales 2 framework, SEWSCAP and SWWRCF and in lot sizes up to £100m.

These promise a total combined spend of more than £2bn over the next 4 to 5 years.

Hoppé said this would provide visibility and stability in the order book for the foreseeable future.

Andrew Scott employs 234 staff in Wales. It is currently delivering a portfolio of projects across education, health, commercial, logistics, and advanced manufacturing sectors.

Cash in bank at the end of financial year was just over £10m.