Piling contractor reports 45% pre-tax profit rise in year to October 2007 but warns downturn starting to bite

Pre-tax profit at UK piling contractor Roger Bullivant has increased 45% from 拢2.3m to 拢3.4m, although the company warned the credit crunch was starting to take its toll.

Turnover in the year to 28 October 2007 was also up - from 拢112.6m to 拢127.9m.

A company statement said: 鈥淩ecently the company has felt the effects of the current downturn in the economy that appears to have especially hit the construction industry.

鈥淎lthough this year is proving more challenging, we believe that the company is in a strong position with a broad range of good products and we remain optimistic that it will overcome the present difficulties in the marketplace.鈥�

The firm's highest-paid director took home 拢761,842 - up 64% from 拢465,354 last year.

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