Worcestershire builder Benniman weathered a lull in the shed building market last year to maintain profit levels.

The warehouse market slowdown saw revenue drop by around a fifth to £130m, but Benniman managed to keep pre-tax profit level at £8.4m.

The shed builder also managed to end the year with stronger net cash at £55m, up from £38m in the year before.

Steven Smith managing director of Benniman, said: “The industrial and logistics market has been challenged through 2023 compared to 2022, although Benniman has been sustained by a strong pipeline.

“The company’s longstanding approach to maintaining a highly skilled team, focussing on relationships with clients and retaining a robust balance sheet has been vital for being able to capitalise on the opportunities that present themselves.”

Smith said Benniman entered 2024 with a significant pipeline of work and further opportunities in the industrial and logistics market to meet the requirements of online retail platforms and storage.