Jestico & Whiles says decision caused by uncertainty following UK鈥檚 decision to leave EU
Jestico & Whiles has said it is looking at overseas schemes to make up for an expected shortfall in UK workloads following Brexit.
In a note accompanying its 2016 annual results, signed by director Heinz Richardson (pictured), the firm said it was 鈥渢argeting further increases in workload abroad to counteract the anticipated slowdown of UK-based work consequent upon the uncertainty created by the referendum outcome to leave the EU鈥�.
It admitted that the result of last June鈥檚 EU referendum 鈥渉as undoubtedly had an effect during the latter part of the financial year鈥�.
In the 12 months to August 2016, the firm, which is based in London with a sister office in Prague, said turnover edged up 拢150,000 to 拢9.3 million while pre-tax profits inched up to 拢170,000 from 拢154,500 last time.
The number of staff at the business, which last autumn was given the green light to turn two disused buildings on a former US airforce base in Oxfordshire into a hotel and brasserie, stood at 123 鈥� up from 116 鈥� with the salary of the highest paid director, who is not named, slipping 拢86,000 to 拢212,600.
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