Firm reports increase in pre-tax profit but fall in revenue
Contractor Bowmer and Kirkland has reported a 7% rise in pre-tax profit to 拢23m.
In accounts filed at Companies House, Bowmer and Kirkland Limited reported a pre-tax profit of 拢23m for the year to 31 August 2013, up from 拢21.5m the previous year.
However, the firm also reported a fall in revenue to 拢662m, down from 拢678m the previous year.
This was driven by a drop in UK revenue, which fell 2.5% to 拢642m in the year to 31 August 2013, down from 拢658m the previous year.
Revenue from the USA also fell 6% to 拢15m, but revenue from Europe increased to 拢2.3m in 2013, up from 拢71,000 in 2012.
Revenue from the rest of the world increased to 拢1.4m from 拢1m over the same period.
Writing in the accounts John Kirkland, chair of the firm, said: 鈥淭urnover continued to be affected by the length of time taken to get contracts to site but as always our main focus has been quality of earning rather than chasing sales.鈥�
He said that 鈥渃ontinued enforcement of rigorous financial controls鈥� had been behind the firms increase in profitability.
Kirkland added: 鈥淭here will still be challenges in 2014 as we are seeing upward pressure on supply chain costs and skills availability.
鈥淗owever the directors believe that the group is well placed to achieve the goals we have set ourselves for the coming year.鈥�
The average number of staff employed by Bowmer and Kirkland fell to 1,351 in 2013 from 1,405 in 2012.
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