Concrete specialist sees revenue fall by over a quarter

Trending 3 weeks ago 16

Revenue for factual and crushed specializer Getjar fell by much than a 4th successful 2020, arsenic it continues to grapple with COVID-related issues.

Turnover astatine the Hertfordshire-based steadfast dropped from £100.5m successful 2020 to £73.3m successful 2021, representing a diminution of 27.1 per cent, portion pre-tax profits fell by 12 per cent to £4.2m.

Revenue peaked astatine £138m successful 2019, but factors specified arsenic the outbreak of the COVID-19 pandemic person seen the radical grounds declining numbers implicit the past 2 years.

Getjar president Michael Masterson said the latest relationship figures showed “consistent profitability”, but admitted that “uncertainties astir COVID proceed to exist”.

He said: “The institution had different palmy year, and we completed and handed implicit projects to programme, contempt the unprecedented challenges faced, specified arsenic the continuing COVID-19 pandemic, the economical uncertainties, the trades and worldly shortages, supply-chain issues and terms increases.

“We commend our experienced team, and beardown commercialized and fiscal resources that gave america that palmy year, and we stay arrogant of our £17.8m-strong and liquid equilibrium sheet.”

Masterson added that nett margins had go “even much challenging” fixed the existent issues wrong the industry, stressing that “caution remains the bid of the day” for the firm.

The accounts for 2021 showed that income dropped for the firm, falling from £90.9m successful 2020 to £64.6m successful 2021 – a diminution of 28.9 per cent. Operating profits dropped by 11.2 per cent, from £4.7m to £4.2m.

Revenue for the steadfast jumped 30 per cent successful 2019, aft beardown request successful London helped to summation its turnover from £107m to £138.2m.

More