Profits up at Roger Bullivant
- Published: 04 September 2008 16:21
- Author: Nick Whitten
- More by this Author
- Last Updated: 04 September 2008 16:49
Piling contractor Roger Bullivant said its latest results last year were ahead of expectations with profits growing by a third.
The firm said pre-tax profit was up 31 per cent to £3.4 million for the year ended 28 October 2007. Revenue also head north, with revenue growing 12 per cent to hit £127.8 million.
But in a statement signed off last month, the firm said the effects of the economic downturn was starting to bite.
It said: "Recently the company has felt the effects of the current down turn in the economy that appears to have especially hit the construction industry.
"Although this year is proving more challenging, we believe that the company is in a strong position with a broad range of good products, and we remain optimistic that it will overcome the present difficulties in the market place."
In the statement accompanying its results, the firm said last year's acquisition of Amec's former precast concrete arm Buchan Concrete Solutions was helping it open up new markets and opportunities.
The deal added nearly £4 million to the wages bill at the Staffordshire firm which now employs nearly 1,100 people.
The salary of the highest paid director, who is not named, went up 64 per cent to £762,000.
