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East Midlands contractor doubles annual turnover in one month


East Midlands contractor doubles annual turnover in one month

Construction & Build

​A medium-sized Northamptonshire-based contractor won six new projects worth a combined £75m in June – more than double its latest annual turnover.

The work won by Kori Construction includes building four new care homes and an assisted living complex, as well as a 100-bed hostel for the YMCA.

The total value of the contracts is more than twice Kori’s turnover in the year to the end of March 2023, which was £34.8m, up from £20.3m in 2022.

The business, which was founded in 2009, said the contracts revealed its “growing geographical footprint”, with locations including Surrey, the West Midlands and Cambridgeshire.

The firm specialises in delivering care homes as well as assisted and retirement living projects. It focuses on design-and-build schemes from £5m to £25m, according to the directors’ 2023 strategic report.

Kori managing director Jordan Connachie described securing the recent work as a “phenomenal result” that puts the company on track to meet its five-year growth target.

“The fact that 80 per cent of the new business comes from existing customers demonstrates that the foundations we’ve built are strong and that our hard work is paying off,” he said.

The firm’s profit before tax in its 2023 accounts was £1.5m, an increase on 2022’s figure of £345,000. It had an average of 32 employees.

Kori’s net worth has doubled to £2m in the past year. Connachie said that this and “industry-leading profit margins” were “a result of our commitment to retain the profits within the business”.

“Our ethos has always been about achieving ambitious but manageable growth,” he added.