Kori reported a record-breaking month in June, securing six new projects with a combined value of £75m, having been appointed to build four new care homes and an assisted living complex totalling more than 400 bedrooms, and a 100 bed hostel on behalf of the YMCA.
The projects, which span Surrey, Norfolk, the West Midlands, Cambridgeshire, Berkshire, and Hertfordshire, reveal Kori’s growing geographical footprint as the business continues to expand across the UK.
80% of the work comes by repeat business from existing customers impressed by the contractor’s previous schemes.
Jordan Connachie, Managing Director of Kori Construction, described the contract wins as a major result for the business.
Last year, Kori Construction’s turnover grew to £35m, up from £20m the year before, but these latest appointments propel Kori Construction to the next level, Mr Connachie said.
He said: “Securing £75m of business in a single month is a phenomenal result and I couldn’t be more proud of the team here at Kori.
“This host of project awards puts us right on target to achieve the growth targets we set out in our five year business plan.
“We have been working hard to establish great relationships and a great reputation within the industry and have received some excellent feedback on the developments we’ve delivered to date, which put us in a beneficial position to win repeat business.
“The fact that 80% 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.”
To support the business’s growth trajectory, Kori Construction has been gearing up for an increase in workload over recent years with key strategic appointments, far-reaching digital transformation, and by investing in its brand and sustainability activities, to ensure all projects are delivered to time and budget.
The business has also forged close relationships with suppliers and subcontractors since being founded in 2009, and these relationships play a vital role in the successful delivery of every scheme.
Mr Connachie added that securing the contracts coincided with the release of the company’s latest annual accounts that reveal Kori Construction achieved industry-leading profit margins and a 100% increase in net worth in 2022.
“This is a result of our commitment to retain the profits within the business,” he said.
“Our ethos has always been about achieving ambitious but manageable growth; growth that can be sustained over the long term so we can build a strong business that delivers for our people, our clients, the communities we work alongside, and the environment.
“That is our vision of success, and it is shared by every member of the team. June’s record-breaking performance is another step closer to achieving that.”
