Revenue dropped 27% to £73m in the year to August 2021, the second fall since peak sales of £138m in 2019.

Despite ongoing business challenges, pre-tax profit slipped by just 12% to £4.2m.

Chairman Michael Masterson said: “The company had another successful year and we completed and handed over projects to programme despite the unprecedented challenges faced such as the continuing pandemic, the economic uncertainties, the trades and materials shortages, supply chain issues and price increases.

“We commend our experienced team and strong commercial and financial resources that gave us the successful year and remain proud of our £17.8m strong and liquid balance sheet.”

He added that the group would continue to diversify after the addition of a piling and demolition division, cut and carve division and a precast manufacturing plant.

Parent group Masterson Holdings saw revenue fall to £102m from £146m, and pre-tax profit drop a third to £6.1m.

The group figures include carpentry fit-out business Atlantic Contracts and Glencoe Plant Services.