Weeks after completing a £50m, 31-storey residential tower on Liverpool waterfront, construction firm Vermont reports 52.2% rise in annual revenues to £62.5m. Tony McDonough reports
Liverpool construction firm Vermont hails its “fantastic pipeline” as it reports a surge in annual revenues.
Just weeks after completing a £50m, 31-storey residential tower on Liverpool waterfront, the firm has posted its accounts for the 12 months to March 31, 22025, on Companies House.
They reveal a 52.2% rise in revenues to £62.5m and pre-tax profits of £1.3m, identical to the previous year. Shareholder dividends totalled just over £80,000.
In November it was announced that Vermont had completed a 31-storey residential tower at Princes Dock in Liverpool Waters after the project stalled twice over several years.
Estimated to cost around £50m, the 278-home Lighthaus build-to-rent (BTR) development has seen its first tenants move in. It offers a mix of studio, one, two, and three-bedroom apartments as well as a ‘sky lounge’ with panoramic views.
In January 2024 Vermont broke ground on the development, originally called Patagonia Place. It had stalled on two previous occasions after Your Housing Group (YHG) pulled out.
Vermont is also working on other residential projects at Manchester Waters, Media City, Salford and Farnworth. It has also completed other schemes in Liverpool including Plaza 1821, located just yards away from Lighthaus in Princes Dock.
In the annual report, director Michael Huston wrote: “The group is in a strong position with a fantastic pipeline of opportunity enhanced this year with improved gross profit.
“Cash at bank and in hand has grown stronger at £8.2m (5.2m last year). The group continues to pay close attention to operating working capital management and maintaining the principle of ensuring prompt supplier payment.”
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He concluded: “The group continues to seek out opportunities across the North West of England in line with business strategy.”
Vermont was founded in Liverpool in 2004 by Mark Connor who remains a director and shareholder of the business.