The Group produced another strong financial performance despite very challenging markets. The company maintains a strong balance sheet with good cash reserves and a substantial order book. Taking these factors into account the Board is confident that the Group is well placed to deliver another strong financial performance in the year ahead.
"Our strong results this year are of course a reflection of the quality of our people across the Group from the senior management team to our teams in the business units."
The principal activity of the Group during the year under review was the provision of services across a range of sectors, delivering civil engineering, building, facilities management, logistic services, property development and estates management. These services were delivered through three core divisions of Property, Logistics and Construction.
This year’s results reflect uncertain market conditions with the Group turnover reducing by 18% from £143.4m to £118.2m and a resulting Group profit before taxation of £1m in line with expectations. Net assets of the Group were £14.8m with accumulated cash balances of £18m at the end of the year end with no bank debt.
"We remain very positive about the opportunities to grow the business and we are well positioned to capitalise on the growth potential in our chosen markets."
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