Southport security and construction business EFT Group delivers ‘strong improvement in profitability and efficiency’ despite a fall in revenues as it gets set to relocate its team. Tony McDonough reports

Security and construction business EFT Group said it had taken a hit on annual revenues to improve profitability.

Based in Southport, EFT operates three divisions covering home security and automation, construction and domestic and commercial electrical services. Majority shareholder is Adam Watts and Jordan Duggan also holds a significant stake of at least 25%.

EFT has just posted its annual accounts for the 12 months to December 31, 2024, on Companies House. They show a fall in revenues of £20.5m in 2023 to £18.9m in the latest results.

However, writing in the annual report Adam Watts said: “During the year, the group delivered a strong improvement in profitability and efficiency despite a modest reduction in turnover.

“This reduction was a deliberate outcome of management’s strategic decision to recalibrate its contract mix, prioritising higher margin, value-adding projects over volume.

“The board considers this shift to be in the long-term interests of the group and aligned with its strategy of sustainable growth.”

According to the accounts pre-tax profits were slightly up to £1.3m from £1.29m in the previous year. Post-tax profit was up 16% to just over £1m. Dividends paid out to shareholders totalled £891,494.

In June 2025 EFT announced it was to leave its home at Cobden Road in Southport and relocate its 140 staff to a new purpose-built headquarters after agreeing a 999-lease on multiple plots of land with Sefton Council. It will also build small business units.

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During 2024 the company also saw a small reduction in headcount, achieved through “natural attrition”, with roles not replaced where efficiencies removed the underlying requirement.

“During 2024 the group completed the strategic review of its service lines and operating structure,” added Adam. “This resulted in a deliberate narrowing of active workstreams, enabling greater focus on core disciplines where EFT has strong market positions.”

He also said the group was moving forward with a “strengthened operational platform and a clear strategic focus”.