Stockport utilities group reveals year of growth in 2023 results

Stockport headquartered utilities contracting group, OCU Group, has revealed record growth and operational performance in its 2023 Annual Results.

In the 12 months to 30 April 2023, OCU Group revenues reached a record £455 million, a significant 54% year-on-year increase, highlighting the Group’s continued financial resilience and growth. The large majority of this increase reflects organic growth across the Group’s Utilities and Energy businesses, with acquisitions made during the year also contributing.

The Stockport based group has also made a positive contribution to communities through its work and through the OCU Charitable Foundation, which the utilities contractor established last year.

David Taylor-Smith, OCU Group Chairman, emphasised the importance of the successful execution of OCU’s strategic plan in achieving these results; he said of the year’s successes:

“This is our first full year under Triton’s ownership, we are delighted with our results and the progress we have made in executing our strategy. We are helping the UK to grow by building and maintaining critical utility networks and helping the country to deliver its net zero ambitions.

“As well as delivering strong financial and operational performance, we have expanded our geographical coverage and increased the breadth of our capabilities enabling us to further serve our clients.”

Michael Hughes, CEO of OCU Group, commented,

“Our robust financial performance, and the investments OCU continues to make, demonstrate our resilient business plan and commitment to long-term value creation for all of our stakeholders. Our results are testament to the commitment and dedication of all our OCU colleagues and underscore the inherent strengths of the OCU business model. This year has continued to show that safety is at the heart of everything we do as we build, upgrade and maintain important critical infrastructure in the energy, telecoms, water, and transport markets. Our values also ensure that we deliver our energy transition and utilities contracting in a sustainable way.

“Looking forward, OCU Group will continue to invest in expertise and capacity to support the continued needs of our clients and wider growth of the business, with our goal of continuing to lead the way in utilities and energy transition sectors.”