Despite challenging pricing in the market, the holding company OHOB delivered a pre-tax profit of £27m in the year to March 2019 from revenue of £300m.

Over the year the business, which was set up in 1972, raised operating margin from 8.4% to 9%.

The group’s main operating businesses covering concrete, groundworks and infrastructure were all profitable over the year and strengthened their balance sheets.

OHOB group employs 113 staff and ended the year with cash of £26.5m.

Chairman Tom O’Brien said: “Pricing remained challenging in a competitive market and costs continue to rise especially in tradesmen’s wages and management salaries.

“While London and the South East remain our main area of operation, we also expanded into the Midlands and Northern Europe during the year.

“This year has also seen further significant and self-funded investment in training, plant and equipment and the completions of our new and larger offices, workshops and storage yard.”

He added: With project turnover in excess of £300m, we have the resoources and financial strength of a larger construction group, but we strive to retain the family culture with all our directors actively involved with our clients and projects.”

OHOB holdings ended the year with net assets of £107m up from £85m in 2018.