{"id":508491,"date":"2024-10-29T12:45:06","date_gmt":"2024-10-29T12:45:06","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=508491"},"modified":"2024-11-05T11:04:54","modified_gmt":"2024-11-05T11:04:54","slug":"clancy-ceo-were-not-focused-on-growth","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/sections\/long-reads\/interviews\/clancy-ceo-were-not-focused-on-growth-29-10-2024\/","title":{"rendered":"Clancy CEO: \u2018We\u2019re not focused on growth\u2019"},"content":{"rendered":"

Clancy chief executive Matt Cannon has credited his firm\u2019s focus on client and supplier relationships for its record revenue and profit.<\/p>\n

\u201cAs a private, family-owned business we\u2019re absolutely not focused on top-line revenue growth,\u201d he told Construction News<\/em>. \u201cWe\u2019re focused on delivering for our clients and making sure we work effectively, that we have skills capability and then making sure that the risk we\u2019re prepared to take on is appropriate.\u201d<\/p>\n

Civils-focused Clancy was ranked 57th in this year\u2019s CN100 table of top contractors<\/a>, based on turnover of \u00a3334.5m in its previous financial year.<\/p>\n

In its latest accounts for the year to 31 March 2024<\/a>, the firm posted turnover of \u00a3378.5m and pre-tax profit of \u00a320.9m. These figures marked a 13 per cent and 55 per cent increase respectively.<\/p>\n

Cannon said \u201cfruitful conversations\u201d with clients around risk-sharing have allowed Clancy to take on repeat work in its key areas, including water and energy infrastructure, where investment is growing.<\/p>\n

\u201cUltimately, we want to make sure that we\u2019re focused on [delivering work] rather than commercial challenges, frustrations and disputes. That becomes energy-sapping,\u201d he said.<\/p>\n

\u201cThe clearer we can be about the allocation of risk and focus on making sure the contract\u2019s set up for success, the better we will do.\u201d<\/p>\n

Clancy also holds regular \u201c360-degree conversations\u201d with its supply chain to check on their financial health, Cannon said. This is particularly important after ISG\u2019s collapse last month<\/a>, which Cannon described as a \u201cmoment of reflection\u201d.<\/p>\n

He said: \u201cIt’s always a moment where you hold up the mirror to yourself and think about where we carry risk, what we need to do, is there anything we need to do better in terms of our controls and our governance?\u201d<\/p>\n

Cannon said the fallout of ISG\u2019s administration had come up in its regular conversations with suppliers.<\/p>\n

\u201cClearly, things like payment terms and cashflows are always an interesting conversation that you need to have with your supply chain, just as you have with your suppliers,\u201d he said.<\/p>\n

\u201cI think it\u2019s really important to ensure that we\u2019re having that conversation because the resilience of our supply chain is incredibly important in terms of supporting our capabilities.\u201d<\/p>\n

He added that ISG employed a \u201chuge amount of really talented people\u201d, for whom firms like Clancy could provide alternative employment. \u201cIt\u2019s important as a sector that we rally round,\u201d he said.<\/p>\n

Asked what he would like to see in tomorrow\u2019s Budget announcement, Cannon had one request: a clear plan.<\/p>\n

Stability of investment is crucial for business to plan for the long-term, he said, particularly when developing a workforce with the skills to carry out bold infrastructure plans.<\/p>\n

\u201cAs we look ahead we expect there to be significant infrastructure growth. I think that resourcing that growth is one of the key challenges for the sector,\u201d Cannon said.<\/p>\n

\u201cAnything government can do to support that, to encourage people to train and invest in skills is key.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Clancy chief executive Matt Cannon has credited his firm\u2019s focus on client and supplier relationships for its record revenue and profit. \u201cAs a private, family-owned business we\u2019re absolutely not focused on top-line revenue growth,\u201d he told Construction News. \u201cWe\u2019re focused on delivering for our clients and making sure we work effectively, that we have skills …<\/p>\n","protected":false},"author":141524,"featured_media":391676,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false},"categories":[552,570],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\t\n\t\n\t\n