Reds10 generated revenue of 拢144.7m in the year to 31st March 2025, up just 1.5% on the previous year鈥檚 拢142.5m. Pre-tax profit was 拢7.06m, a 拢57,000 improvement on the previous year.
But owner and chairman Paul Ruddick believes that the flat year that was 2024/25 will porve to be but a pause in the trajectory he has planned. As recently as 2022 Reds10 revenue was just 拢37m and Ruddick has his sights set on 拢500m turnover within a very few years.
The company is debt free, with cash reserves of 拢20m and a secured pipeline of more than 拢350m of work.
Reds10 is one of five companies appointed to the Defence Infrastructure Organisation鈥檚 alliance to build single living accommodation (SLA) for the armed forces; is on the London 色猫直播 Programme Public Sector Education Framework鈥攁 four-year schools framework; and has a place on the NHS Shared Business Services (SBS) Modular Buildings 3 Framework 鈥� four-year framework for modular buildings across public sector estates.
Reds10 has also developed a prototype of a modular hospital in-patient bedroom to help drive the industrialisation of Hospital 2.0, the government鈥檚 New Hospital Programme (NHP). If approved by the NHP, the prototype will serve as a standardised bedroom across the entire NHP, providing the NHS with a modular solution that could accelerate the construction of new hospitals.
Reds10 is particularly targeting the healthcare sector and affordable housing/temporary accommodation sectors in its quest for 拢500m turnover.
Chairman Paul Ruddick said: 鈥淩eds10 is proud to be bucking the trend in the volumetric sector. While many businesses have struggled, we鈥檝e demonstrated that volumetric construction works when you diversify across multiple income streams and take a long-term, patient approach. This year marks a turning point for us: following a period of consolidation and significant investment in our manufacturing facilities and data platform, we are now driving the wholesale industrialisation of design, production, and construction processes, with AI integrated at every level.
鈥淥ur commitment to innovation ensures we remain at the forefront of transforming the construction industry. We鈥檝e strengthened our position in defence, justice, and education, delivering sustainable, high-quality buildings for the public sector at pace. Looking ahead, we see enormous potential in health and residential markets, where our industrialised model can deliver affordable housing at scale. This is just the beginning of the next phase of growth for Reds10.鈥�
Reds10 manufactures its buildings in Driffield, East Yorkshire, where it has five factories totalling 300,000 sq ft.