CHAP (Holdings) Limited, the parent company of CHAP Group (Aberdeen) Ltd., is pleased to announce a record annual turnover of £57.7million for the 2023/24 financial year.
This marks the fifth consecutive year of profit growth for the Westhill-based construction firm, with revenue increasing by 8.4% and comparable profit before tax rising to £1.12million, before a £566,000 exceptional revaluation of property and development investments.
Hugh Craigie, CHAP's managing director, commented: "I am pleased that the company has once again met our budgetary targets and remains on track to achieve our long-term growth plans.
Directors, left to right, Richard Stott – Civils Director, Andy McNair – Pre-Construction Director, Shona Gee – Finance Director, Hugh Craigie – Managing Director, Fraser Taylor – Operations Director, Malcolm Young – Commercial Director
"The recent acquisition of A&A Civils will enhance the impressive performance of our civils division, and substantial
investment in our construction division's preconstruction team will support future growth phases."
Looking ahead, CHAP plans to continue its geographical expansion and explore potential acquisitions to complement its ongoing organic growth.
Having outgrown its long-term home at Westhill, the company has secured new office premises, remaining in Westhill. The move, anticipated to occur in autumn, will approximately double its office space.
The company also announces the passing of Alasdair Craigie, CHAP's non-executive chairman and the last of the original four founding directors, in January 2025.
Jim Clark has succeeded him as chairman.