Stockport utilities contractor reveals record 2022 results

Stockport-based energy sector and utilities contractor, OCU Group, has revealed record annual performance and 34% year-on-year growth for the 12 months to 30th April 2022.

The firm achieved annual revenue of £295.2 million, and is expecting to substantially outperform that figure for the current financial year. The firm is now looking to refocus to better reflect the UK infrastructure market, which has seen the group reorganise into OCU Utility Services and OCU Energy Services as it looks to achieve further growth in years to come.

Michael Hughes (pictured), OCU Group Chief Executive Officer, said:

“After a record year to April 2022 we have carried the momentum into our current trading period with revenues for the year expected to grow double digit setting up OCU for another record year. We’re investing heavily in both our business and people to better serve our existing and target customers and to ensure we’re ready to capitalise on the evolving strategic opportunities available to us.

“The refocusing of our business reflects both our strengths and the broader direction of the UK economy and UK infrastructure markets. Over the next decade we will continue to work diligently to become an increasingly important partner in building the energy and utility infrastructure that will transition the UK economy into one of the greenest in the world.”

The new business divisions replace the O’Connor Utilities and Instalcom brands. OCU Energy Services will focus on serving the UK’s needs as it transitions to renewable and zero-carbon technologies. Recent contract wins for the division include building one of the largest Battery Energy Storage sites in the UK and work to deliver the roll out EV chargers.

OCU Utility Services will focus on the group’s regulated utility framework contracts, including those in the telecoms, power, and water sectors.

Michael Hughes added:

“The investments made over the past year have put us in an enviable position for our next phase of growth. We will continue to pursue organic growth and assess strategic acquisition opportunities as they arise as well as invest in our senior team to support our ambitions.”