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16 December 2025Reds10 Posts £144.7M Revenue and Invests in Tech to Industrialise Construction
Reds10 has recorded robust financial results for the 2024/25, with revenue of £144.7m and an industry-leading operating margin of 4.8%.
The strong financial performance comes after the modular construction pioneer consolidated its position in key markets and invested in data, technology and AI to further industrialise its processes, laying the foundation for its next phase of growth.
Reds10 deploys Modern Method of Construction (MMC) to design and build high-quality sustainable buildings for the public sector, with a particular focus on defence, education, justice, health, as well as temporary accommodation and social housing.
Key highlights from the results for the year to 31 March 2025 include:
- Revenue up 1.5% YoY to £144.7m (£142.5m in 23/24; £83.8m in 22/23; £63.4m in 21/22; £37m in 20/21)
- Anticipating continued growth – c. £160m revenue forecast for current year 2025/2026
- Pre-tax profit of £7.06mm (£7m in 23/24) with operating profit remaining strong at £6.88m (£6.9m in 23/24), and an operating margin of 4.8%, above industry averages
- The company has a strong balance sheet, with cash reserves of £20m and remains debt free
- Secured pipeline of over £350m coming from long-term programmes of work
- Continued investment in Reds10’s advanced manufacturing facility in Driffield, East Yorkshire with two of its five factories now integrating fully industrialised processes, along with significant investments in data, technology and the automation of design
Revenue was buoyed by continued consolidation across defence, education and justice, where the modular construction specialist has a growing order book of £350m. Reds10 is one of five construction companies appointed to the Defence Infrastructure Organisation’s alliance to build Single Living Accommodation (SLA) for the Armed Forces; is appointed to the London Construction Programme Public Sector Education Framework—a four-year schools framework; and has a place on the NHS Shared Business Services (SBS) Modular Buildings 3 Framework — four-year framework enabling the rapid and efficient delivery of modular buildings across healthcare, education, residential, and wider public sector estates.
The modular specialist has is also developing also developed a ground-breaking prototype of a modular hospital in-patient bedroom to help drive the industrialisation of Hospital 2.0, the government’s multi-billion-pound New Hospital Programme (NHP). If approved by the NHP, the prototype will serve as the standardised in-patient bedroom across the entire NHP, providing the NHS with an modular solution that accelerates the delivery of the next generation of hospitals.
Reds10 has set out an ambitious plan to grow its revenue to £500m and is targeting an expansion into the healthcare sector, as well as the affordable housing and temporary accommodation sectors, providing high quality sustainable homes for local authorities to help them tackle the housing crisis in their communities.
Paul Ruddick, Chairman of Reds10, said:
“Reds10 is proud to be bucking the trend in the volumetric sector. While many businesses have struggled, we’ve 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.
Our commitment to innovation ensures we remain at the forefront of transforming the construction industry. We’ve 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.”
Reds10 manufactures all its buildings off-site at its advanced construction facility in Driffield, East Yorkshire, where it has five factories totalling 300,000 sq ft.
By investing in its own workforce, the company is able to deliver sustainable and innovative buildings in modern manufacturing facilities which are then transported and assembled on site to the most exacting standards.