The contractor’s turnover fell sharply by 42% to £109 million in the year ending 31 August 2025, while pre-tax profit more than halved to £2.3 million from £4.9 million, as several projects were delayed awaiting regulatory approval.
A spokesman for Tide said: “With the requirements of the Building Safety Regulator and the introduction of the Gateway process, project start dates on site were deferred pending BSR Gateway 2 approval.
“This transition period has been significant for the whole sector.
“Working collaboratively with the BSR, the company has now successfully obtained approval for several key projects, and we are progressing strongly with activity underway across major schemes totalling over £500m.”
Despite the delays, the company remained profitable throughout the year, supported by a strong balance sheet. Tide closed the period with net assets of £41 million and cash reserves approaching £13 million.
The London-based contractor is widely recognised as a pioneer in volumetric construction and has delivered seven of the world’s ten tallest modular towers, reinforcing its position as a leading player in the modular building sector.
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