Turnover up but profit down at Weaver group

Weaver, a construction group based in Bromsgrove, Worcester-shire, has suffered a fall in profit margin with its latest financial results showing a dip from last year's 1.2% margin to just 0.6%.

Turnover (12 months to 31 March 2005) roared ahead, almost doubling to 36m (23m), but pre-tax profit was trimmed back to 204,000 (280,000).

Founded in 1865, the group has four external operating divisions: contracts; hotels, banks and leisure; building design;
and property.

Weaver Contracts' promotional literature states that its planning department is capable of ensuring that "complex service installations or difficult ground conditions can easily be overcome".

Weaver Hotels, Banks and Leisure operates nationally, tackling projects from 500,000 to 10m, while Weaver Building Design undertakes D&B projects for "a wide variety of clients on a worldwide basis".

Last year, the group had 128 employees. Weaver lifted its contribution to the employees' pension fund to 340,000 (78,000).

The group put a further 280,000 into the pension schemes for its six directors. The highest-paid director earned 91,000 (86,000), which was boosted by a further 47,000 (5,000) contribution to his pension fund.

Weaver paid its trade creditors in just 22 days - well ahead of the construction industry average.