Clugston has suffered a dip in profits and turnover due to delayed starts to a series of projects.
But chief executive Bob Vickers is bullish about future prospects thanks to a strong pipeline of secured orders.
Clugston recorded a £1m pre-tax profit on a turnover of £118.2m last year compared to £2.2m on £143.4m the previous year.
Vickers now hopes tuurnover will bounce back to hit £170m.
He said: “Whilst a challenging year, primarily due to delayed projects, our strong results are a reflection of the quality of our people across the Group.
“We have delivered another strong financial performance, with solid profitability, substantial cash balances of £18m and no bank borrowings.”
“We remain very positive about the opportunities to grow the business and with a forward order book already secured sufficient to generate a turnover in excess of £170m this current term, we are well positioned to capitalise on the growth potential in our target markets, with a substantial pipeline in place for the following years.”
The main construction recorded a turnover of £101.6m last year.
from Construction Enquirer http://www.constructionenquirer.com/2017/07/20/project-delays-hit-clugston-results/
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