Shepherd Group turnover rises 10%

Aaron Morby 12 years ago
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Shepherd Group has raised turnover and underlying profit in the year ending June, despite worsening market conditions.

Group turnover increased by nearly 10% to £672m and despite a 16% fall in pre-tax profit to £27.6m, underlying operating profits rose 4% to £25m.

The improved performance saw the group’s net cash almost double to £89m compared to a year ago.

Group chairman, Alan Fletcher said: “The group continues to make steady progress against a very challenging market backdrop.

“The completion of our business restructuring and the recruitment of new senior executive management continue to give confidence in the underlying potential of the group.”

Shepherd Construction and Shepherd Engineering Services managed to achieved growth in turnover while developing a reputation for handling large and technically complex projects at Drax and at Pirbright.

The Portakabin Hire division delivered a small increase in turnover and the European businesses achieved an overall increase in turnover and higher profit in each business area – France, Belgium and the Netherlands.

Its European business units now deliver a significant contribution to profit, due in part to the strategic decision to focus primarily on the hire businesses in Belgium and Holland.

The FM business continued to make good progress in growing contracted revenues and Shepherd Homes achieved increased turnover and a breakeven position, which Shepherd  said was an encouraging performance given that market conditions remained very difficult.

 

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