Concrete frame specialist GCL tops £100m income
The Welwyn Backyard City firm ranks as one of many pause 10 concrete frame contractors within the UK working within the south of England and the Midlands and transferred ownership to an employee ownership belief lawful over two years within the past. Nonetheless discipline cloth and labour cost inflation dented profit performance over the year
The Welwyn Backyard City firm ranks as one of many pause 10 concrete frame contractors within the UK working within the south of England and the Midlands and transferred ownership to an employee ownership belief lawful over two years within the past.
Nonetheless discipline cloth and labour cost inflation dented profit performance over the year, which fell to £1.1m from £2.6m in 2022 on income up 15% to £104m.
In the most neatly-liked accounts managing director John Diviney acknowledged: “The broader economy and the attain enterprise persevered to face challenges from the ongoing affect of macro-economic components all the contrivance thru the monetary year.
“Extra no longer too long within the past these encompass the affect of inflationary pressures on key commodities increasing the associated fee of handing over projects resulting in reduced profit ranges.
“Given the uncertainties existing within the wider economy the directors are venture neatly-liked reports of
the pipeline and enterprise forecasts to originate particular timely responses can also merely be made to any known dangers.
“The company has taken a cautious means to the soft process ensuring that dangers are clearly known and assessing profitability on schemes earlier than submission of final tenders.”
In London, GCL has no longer too long within the past secured jobs for Berkeley Community at Fulham Reach and Wates at Cecil Avenue in Wembley.
The enhance saw the realistic headcount over the year rise to 63 workers.
Cash at monetary institution remained stable at £8.4m.
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