Founder-Led Revival Drives Civil Engineering Firm Back Into the Black

A major restructuring programme and a return to founder ownership have helped civil engineering contractor Alun Griffiths stage a dramatic financial recovery after a challenging period of losses.

The business recorded a pre-tax profit of £3.9 million during 2025, reversing a £44 million loss reported the previous year. Operating performance also improved significantly, with profits reaching £7.2 million compared with an operating loss of £38 million in 2024.

The turnaround follows the acquisition of the company by Grosmont Ventures, the investment vehicle of founder Alun Griffiths, who regained control of the business after it spent eight years under the ownership of construction materials group CRH.

A key element of the recovery strategy was a deliberate move away from large-scale contracts towards smaller, more manageable projects that better matched the firm's expertise and delivery capabilities. Management believes the revised approach will generate more sustainable returns while reducing commercial risk.

As a result, annual revenue declined to £140 million as the company intentionally reduced its workload and became more selective in the projects it pursued. Despite the lower turnover, improved contract performance and tighter operational controls helped restore profitability.

The ownership change also brought substantial financial restructuring. Support measures worth £216 million, including debt write-offs and other financial arrangements, transformed the company's balance sheet from a significant deficit position into positive net assets.

Company directors said the stronger financial footing provides greater stability and flexibility as the business enters its next phase of development.

The restructuring programme extended beyond finances, with workforce numbers adjusted to reflect the company's revised operating model. Employee numbers reduced from more than 730 to around 570 as the business aligned resources with future demand.

Founded in South Wales, the contractor has long been a prominent name in the UK civil engineering sector, delivering projects across highways, infrastructure and environmental works.

The latest results mark a significant milestone in the company's recovery journey and suggest that a strategy centred on financial discipline, selective growth and core engineering expertise is beginning to deliver results.