Newport Norse has been recognised by the Welsh Government as a leading construction innovator for its profit sharing model which remains unique in the country.
The company is one of only 33 companies across Wales named as being the most innovative in the construction industry which all stand out from the crowd for helping build the Wales of the future.
Newport Norse provides a range of services for Newport City Council and has successfully grown turnover from an initial £7.3m to £12.7m since a partnership agreement began in 2014.
Staff numbers in Newport have grown from 210 to 320, providing services such as property, facilities management, asset management design and delivery of capital investment programmes.
As part of the partnership agreement, Newport Norse returns a share of profits to the city council, ensuring money is retained at a local level.
This equates to a rebate of £1.2m so far and one of around £360,000 in 2018/19 alone.
Newport Norse Managing Director Lyndon Watkins said: “It’s a great accolade to have received from the Welsh government and a distinguished panel of judges and an important recognition of all the hard work done by everyone at Newport Norse over the last five years.
“We are a company with a strong social conscience and have supported a number of community initiatives through making the most of our volunteering and company Community Fund which supports local good causes.”
You can read more about the Newport Norse success story by viewing the 2019 Innovation Index at https://www.innovationcw.co.uk/