Stevenage firm ARJ specialises in resdiential work
A Hertfordshire contractor has filed a notice of intent to appoint an administrator, despite posting an improved set of annual figures less than a year ago.
Stevenage contractor ARJ Construction saw pre-tax profit rise 11% to 拢2.8m on revenue up 61% to 拢117m in the year to April 2023.
But the hikes masked a fall in pre-tax margin which slumped from 3.5% to 2.4%, according to the accounts filed at Companies House at the end of last July.
It said had 鈥減erformed consistently鈥� in the financial year 鈥渄espite increasing inflation and labour challenges鈥�.
In the accounts, the firm, which was set up 1991, said its focus was on the residential market and 鈥渟pecifically on partnerships with leading G15 housing associations鈥�.
It said it would 鈥減rioritise securing high value, low risk residential projects with average durations spanning 18 to 30 months鈥�.
It said its order book stood at 拢280m which included an affordable housing scheme in Hemel Hempstead and a care homes project in Northamptonshire.
At its last year-end for April 2023, the firm had 136 people on its books.
Yesterday, Geoffrey Osborne formally appointed RSM as administrator of the business bringing to an end nearly 60 years of trading. Around 100 people have been made redundant.
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