TURNER & Co (Glasgow) has posted a "sustained" year-on-year improvement in pre-tax profit for the year ended March 28, saying it is good to see that changes it made to meet demand are "bearing results".
The business, which operates in areas including facilities management, aviation-equipment services and vehicle hire, said in accounts filed with Companies House that pre-tax profit increased to £17.5 million from £16.1m in the year-ago period, and operating profit increased from £15.0m to £16.7m.
Group turnover jumped from £262.5m to £325.7m. For specific divisions, it grew by 30.5 per cent to reach £8.1m in construction access, by 8.2 per cent to reach £10.1m in aviation, and by 24.8 per cent to reach £288.8m in engineering and support services.
The company said: "The group continued to develop during the period with continuing focus on margin improvements and overhead control across existing business sectors and growth coming from acquisition into new sectors against a backdrop of improving market confidence."
It highlighted that during the period it acquired Iceni Marine Services and Northburn Industrial Services, for £5.1m and £8m respectively, saying they are now totally integrated into the group "and are providing further opportunities for expansion alongside exciting prospects for other group companies".
As for expenses, cost of sales reached £263.6m, from £211.1m and administrative expenses hit £45.4m from £36.4m. Staff costs, including directors' remuneration, hit £65.1m, up from £57.5m.
The firm stated its intention to continue investing in its businesses.
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