Profit takes a tumble at Botes

Botes Building's pre-tax profit nearly halved in the year to 31 December 2003 to £380,000 on turnover down from £66m to £63m. The performance represents a margin of 0.6%, down from 1.1% in the previous year.
Chairman Ian Botes said: "2003 was a year of consolidation. The company undertook a restructuring process creating four specialist divisions. The return on these investments will be seen in 2004."
The amount falling due to creditors rose by £2m to almost £16m.