a sustainable vision at nordan
Welcome back everybody, I hope you had a wonderful Christmas break and feel refreshed and ready to go.
As you may know, I’ve started 2024 with a new job, so I thought I would share a few thoughts ahead of a new chapter for myself and NorDan UK. There is no doubt that, thanks in no small part to our outgoing Managing Director, Alex Brown, NorDan UK is a strong and stable business with tremendous potential for growth.
We’ve had another good year, with 2023 set to yield a 12% increase in turnover, which follows on from 2022’s record growth – nine consecutive years of growth!
The NorDan gospel of low-carbon, high quality and performance is spreading far-and-wide, with 40% of our sales now coming from the South East of England, with ten of the twelve big G15 London social landlords purchasing our products.
Anyone who works in construction knows that this consistent growth is no mean feat, particularly in the present economy.
The construction industry has seen a sharp increase in companies facing critical financial distress, up 46% compared to just three months ago, and work on sites across the UK is predicted to decrease by as much as a fifth in 2024.
But despite all this, NorDan UK is still forecasting to increase sales again, by 10% over the next 12-months, and I’m confident that I can lead the business past the significant £100m turnover milestone.
The development comprises of 614 new private rented homes, along with commercial and amenity space in five individual blocks over ten storeys. With its close proximity to Manchester city centre and Media City UK, Clippers Quay is a highly regarded development within the North-West region.
So why are we so bullish in a bear market?
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