Wantage-based Stepnell has announced a fifth consecutive year of profit, with turnover rising to £112 million and projected to reach £140 million in 2026, marking another milestone for the complete construction partner.
The company attributes its growth to a focused strategy across key sectors, targeted regional expansion, and increased project wins through frameworks. The opening of a new regional base in Liverpool and a strong pipeline of repeat business have further reinforced its success.
Chief executive Tom Wakeford said he was proud of the company’s position as it heads into another year of growth.
“We are ambitious and are currently focusing on setting longer-term plans for the business. The organisation is in a strong position heading into 2026, with 96 per cent of its planned revenue being secured by August.”
Wakeford added that the company’s strong performance reflects its disciplined approach to project selection and client engagement.
“This ever-improving position is indicative of our ongoing focus on making sure we are the right construction partner for each new scheme we take on. Our experience shows that the earlier we are engaged on a project, the greater the probability of success for both us and our client. We’re proud to say that more than three-quarters of our work is with repeat clients, where our previous projects have exceeded expectations.”
The firm’s latest results follow its successful demerger in September 2025, which placed Wakeford and his immediate family in sole ownership of the business.
Governance enhancements and increased investment in directly owned plant have also supported operational efficiency, while higher cash reserves reflect improved payment practices and timely closure of accounts.
Wakeford concluded:
“The results are pleasing — 2024/25 has been an opportunity to build on our strong reputation and solid foundations, providing an exciting opportunity for growth. With the demerger completed, positive framework renewals, a significantly improved cash position and a strong pipeline of work, the business is well positioned for the coming years.”
Founded more than 157 years ago, family-owned Stepnell operates across construction, property, development and energy sectors, with offices in Liverpool, Nottingham, Rugby, Wantage, Southampton and Bristol.
