Name: Advance Construction
Industry/sector: Construction, property and related services
Date founded: 1993
The boss: Seamus Shields
Latest turnover: £86.1m
Three-year compound growth rate (%): 37.23
Latest EBITDA: £6.5m
Advance Construction claimed it has enjoyed “major financial growth since 2009”, increasing turnover from £23.8m to £65m in the last financial year. At the same time, it has estimated that turnover will exceed £100m in the next two to three years.
The firm recently expanded further into the East of Scotland, and suggested that the decision came on the back of “significant growth and an increase of projects throughout the country”.
The opening of its new premises in Inverkeithing will see Advance Construction create 25 new jobs. Recent commissions won by the company in the East of Scotland include construction work linked to more than 5,000 homes being built in social and private housing developments in the Edinburgh area, East Calder, Dunfermline and Burntisland.
Managing director Seamus Shields has maintained that while other companies in the industry were pulling back and not taking any risks, the company saw the downturn as an opportunity to invest in growth and make the business stronger. Prior to 2008 more than 90 per cent of Advance Construction’s work came through housing projects, but it has since diversified and expanded the commercial side of its business.
Shields also claimed that employees are key to the company’s success for they are chosen for their desire to innovate, as well as for their experience.
“Everyone knows people are key to the success of a business,” he said. “But not everyone follows up with a set of fundamental business principles to underpin that belief and leverage it to grow the business. The calibre of our people is the reason we are so successful today.”
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