Profit slips at Briggs & Forrester

Aaron Morby 4 years ago
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A legacy project dating back six years dented profits at independent M&E specialist Briggs & Forrester last year.

While the Northampton-based group’s turnover rose 18% to £262m, pre-tax profit slipped 28% to £4.7m in the year to October 2019.

A loss at the building services maintenance division led to a full strategic review and several management changes.

During the year, Briggs & Forrester also ceased trading any new building energy management contracts through Warrington-based Critical Control Solutions to concentrate on core building services contracting, maintenance and consultancy business streams.

Briggs & Forrester’s forward order book at the end of the year remained stable at £374m despite a market down turn in the second half of last year.

The group’s cash position slipped back from £35m in 2018 to £24m last year, mainly due to buying its head office facilities.

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