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05/07/2016
Clugston Blames 'Challenging Conditions' In Financial Results
Clugston Group has blamed "challenging conditions" as it posted a turnover of £143.4 million in its financial results, down from £253m in 2015.
In addition, it recorded a pre-tax loss of £2.2m, down from £5.1m compared to last year.
Chief Executive Stephen Martin said while the company continues to face challenges, the Group has achieved "another strong set of results with solid profitability".
"We appreciate that the economic outlook is now more uncertain following the Brexit decision, however, we already have a substantial forward order book in place for the next two years and remain confident that we can continue to deliver acceptable levels of profitability," he said.
The company's Construction division posted a turnover of £126.6m with a profit of £2m. In addition, its logistics division increased its turnover by 5% to £16.1m.
Various construction projects being developed by Clugton include the Leeds Recycling and Energy Recovery Facility, projects with Siemens at Green Port Hull as part of the offshore wind manufacturing center, two schemes for The University of Sunderland, a new exhibition Hall at the Yorkshire Showground in Harrogate and two new Care Homes.
In conclusion, Mr Martin added: "Furthermore, Clugston continues to make good progress in securing increased volumes of work in the water and care home sectors and I am pleased to announce that we will shortly commence work on our twelfth Energy from Waste facility."
(LM/CD)
In addition, it recorded a pre-tax loss of £2.2m, down from £5.1m compared to last year.
Chief Executive Stephen Martin said while the company continues to face challenges, the Group has achieved "another strong set of results with solid profitability".
"We appreciate that the economic outlook is now more uncertain following the Brexit decision, however, we already have a substantial forward order book in place for the next two years and remain confident that we can continue to deliver acceptable levels of profitability," he said.
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The company's Construction division posted a turnover of £126.6m with a profit of £2m. In addition, its logistics division increased its turnover by 5% to £16.1m.
Various construction projects being developed by Clugton include the Leeds Recycling and Energy Recovery Facility, projects with Siemens at Green Port Hull as part of the offshore wind manufacturing center, two schemes for The University of Sunderland, a new exhibition Hall at the Yorkshire Showground in Harrogate and two new Care Homes.
In conclusion, Mr Martin added: "Furthermore, Clugston continues to make good progress in securing increased volumes of work in the water and care home sectors and I am pleased to announce that we will shortly commence work on our twelfth Energy from Waste facility."
(LM/CD)
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