A LANCASHIRE construction company involved in several major regeneration projects in Blackburn and Burnley has revealed that its profits have stayed steady despite the coronavirus pandemic.

The Preston-based Eric Wright Group revealed a profit before tax of £9.5million for the year ending on December 31 comparable to 2018’s pre-Covid-19 figure of £10m and up on 2019’s £.7.7m.

Whilst overall turnover across the group in 2020 decreased from £223.2m to £204.6m, gross profit increased from £14.8m up to £17.3m.

This was largely driven by the continued growth of the residential business, the elimination of two loss-making construction contracts and a resilient performance from all businesses across the group. Eric Wright’s investment property portfolio also performed well despite the pandemic ending the year at a value of £75.9m.

The firm was a major contractor in the development of Blackburn’s £34m Cathedral Quarter and the regeneration of the town’s Wainwright Way corridor, and built Darwen’s Ellison Fold Way.

Its Maple Grove Developments construction arm is in partnership with Blackburn with Darwen Council for the redevelopment of the former Thwaites brewery site in Penny Street, Blackburn.

It is also a key player in Burnley’s flagship Pioneer Place development having constructed the town’s new ambulance station and St Peter’s Leisure Centre.

Eric Wright Group’s managing director Jeremy Hartley said: “The strength of our underlying business and the commitment and determination of all our staff has enabled us to trade though the pandemic and look to the future with a cautious optimism.

“This approach enabled us to successfully deliver a number of key projects on time.

“We recognise the huge effort and commitment of our staff throughout this period and we can now shift our focus to creating a secure future.”