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Historic FM and construction firm returns to profit

26 July 2017

Sewell Ventures, formed in 1876, is reported to have returned to profit, after posting losses totaling more than £700,000 in 2015.

Its announcement will be welcomed throughout the FM sector, following the posting of profit warnings by some of the larger companies, including Carillion and Mitie.

The company had increased its turnover by nearly 25% in 2016 to £99.5m, according to Insider Media.

This resulted in profits of £1,437,000, with its former losses attributed to a single "onerous" contract.

Sewell Ventures provides construction and FM services and is active within the health and retail sectors.

Part of its success has been attributed to the opening of an office in Leeds, resulting in the successful completion of projects in the city and nearby Huddersfield and Barnsley.

In addition to its Sewell On The Go division, which operates 12 petrol station convenience stores, the company also runs the Tommy Coyle Academy, delivering free fitness and wellbeing programmed to school children.

The company is also one of the partners for the Hull LGBT 50 week, which finishes on 29 July.

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