Norwich contractor stays in black with cash in bank standing at 拢74m
Regional contractor RG Carter saw turnover top the 拢300m mark for the first time in three years as the firm hailed the strength of its balance sheet.
Latest accounts filed at Companies House by the Norwich-based firm show turnover hit 拢322m last year 鈥� a rise of 23% on 2021鈥檚 number and the first time the business has gone beyond 拢300m since the 拢317m it posted in 2019.
Pre-tax profit came in at 拢7m, down from 拢13.3m last time although this figure was swelled by a one-off 拢6.2m profit gained from a disposal.
Construction turned in a pre-tax profit of 拢1m, compared to 拢10.5m in 2021, while its building services arm saw profit stay flat at 拢500,000. But its developments arm turned in a 拢5m profit on turnover of just 拢9m, compared to a profit of 拢1.1m in 2021.
The firm said net assets stood at 拢133m 鈥� compared to 拢135.65m the year before 鈥� with cash in hand standing at 拢74m compared to 拢80m in 2021.
Chairman Robert Carter said: 鈥淎 strong balance sheet allows the firm to remain agile and adapt as necessary to maximise opportunities.鈥�
Staff numbers went up 5% to 807 at the year-end.
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