Rydon Group Holdings turned over 拢146.8m (2020: 拢190.5m) and made a pre-tax profit of 拢3.7m for the year ended 30th September 2021. In fiscal 2020 it lost 拢2.5m before tax.
While accounts for Rydon Group Ltd show a pre-tax loss of 拢2.7m (2020: 拢700,000 loss) on turnover of 拢121.5m (2020: 拢166.7m), parent company Rydon Group Holdings came out ahead.
Rydon Group comprises Rydon 萝莉原创 and Rydon Maintenance. Rydon Group Holdings also includes the house-building business, Rydon Homes.
Rydon 萝莉原创 turned over 拢46.7m (2020: 拢101.1m) and made a pre-tax loss of 拢2.2m (2020: 拢100k profit).
Rydon Maintenance turned over 拢46.6m (2020: 拢49.5m) and made a pre-tax profit of 拢900,000 (2020: 拢200k). Rydon Homes turned over 拢19.2m (2020: 拢29.9m) and made a profit before tax of 拢3.7m (2020: 拢700k).
In February 2021 Rydon 萝莉原创 sold its regional contracting businesses Rydon LSE and Rydon SW to Paul Nicholls, a former director of Wates鈥� house-building division. The discontinued operations turned over 拢23m and made an operating profit of 拢1.1m.
Rydon is no longer operating as a design & build contractor other than in relation to run-off or legacy projects.
Rydon Group Ltd paid parent company Rydon Holdings a 拢50m dividend during the year. Rydon Group Holdings, owned by Robert Bond, paid out no dividends.
The accounts once again include no provision related to Rydon鈥檚 exposure to action relating to its role in the 2017 Grenfell Tower fire. Rydon was main contractor for the cut-price refurbishment and oversaw the installation of the lethal cladding.
In the annual report, Rober Bond writes: 鈥淚n relation to the Grenfell Tower tragedy, our assessment remains as stated in our previous annual reports. We welcome the rigorous public inquiry as other ongoing investigations. Whilst the report from phase 1 has now been published there is still significant ongoing investigation in phase 2, which started in January 2020. Phase 2 has included significant evidence given 聽by a number of multinational manufacturers of building products used on Grenfell Tower as well as evidence given by product certification bodies. While the final outcome of the inquiry is still some time away, it seems clear from the Hackitt report (the Independent Review of Building Regulations and Fire Safety) and through evidence shared during phase 2 that there needs to be聽 wider review of building regulations, product testing and certification. Rydon has review the specific work carried out by Rydon Maintenance Limited and given the above and the limited nature of the work commissioned, the approvals received in relation to it and the interrelationship with work undertaken by聽 other parties, no provision has been made in the accounts for any matters arising from these tragic events.鈥�
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