Lincolnshire-based contractor Lindum Group has posted a 23% fall in turnover in the year to 30 November 2009 from 拢87m to 拢67.4m
Despite the fall, pre-tax profit rose from 拢2.2m to 拢2.8m. The firm said the fall in turnover was owing to a 鈥渄rop in development activities, an almost non-existent speculative housing market and the change in turnover mix from industrial to social housing and education projects with little 鈥榓dded subcontractor value鈥�.鈥�
It added: 鈥淥ur workload for 2010 is fair to good, but the market shift from private sector to public sector continues. Our workload for 2010 shows a 20/80 split between private and public sector, causing us some concerns about potential public sector cuts after the election.鈥�
The highest paid director鈥檚 pay fell from 拢247,774 to 拢206,060.
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