Prater pushes turnover higher to £39m

Prater, the envelope contractor involved in roofing and cladding activities, enjoyed a surge in turnover to £39m last year.

However, annual financial results (to 31 December 2005) show a dip in pre-tax profit to £870,000 (figure in previous year: £1.3m). Part of the trimming back in profitability was the result of a £270,000 exceptional item, representing a fine that the company received from the Office of Fair Trading. The company said that it related to “an isolated event over five years ago”.

Prater’s turnover in 2004 was £27m.

The company’s orderbook has continued to grow and the directors expect continued expansion and rise in profitability during 2006.

Prater’s balance sheet showed a growth in net assets to £1.5m (previous year’s figure: £1.0m) while the cash flow statement showed net debt trimmed back to £380,000 from the previous year’s £1.1m.

Staff numbers run to 128m of whom 86 are involved in production. The highest paid director received £130,000.