Pettifer Construction’s annual turnover in 2006 bounced back to previous normality at £58m. Delays in getting started on two large contracts had triggered a dip to £32m in the previous year.
Pre-tax profit, however, failed to reflect this substantial upturn with the latest results (12 months to 30 September 2006) showing a figure of £810,000, only slightly ahead of the £750,000 pre-tax profit in 2005.
The latest figure represents a margin of 1.4%.
In a statement the company said: “The directors anticipate growth to continue into 2007 and beyond. A number of significant contracts started in the year and the company now has four contracts of £10m and above in progress. The orderbook is strong.”
Pettifer Construction operates a key performance indicator aimed at maintaining a positive cashflow.
The business has eight directors, the highest-paid receiving pay of £143,000 and a further £18,000 top-up for his pension fund.
In a separate move, Pettifer Group’s figures have also been made public – turnover ran to £21m (figure in the previous year: £1m) while pre-tax profit ran to £2.1m (previous year: £310,000).
It describes its principal activities as residential developments and the provision of central services to members of the group. Pettifer has six separate operating businesses.
Pettifer Group operates with four directors. Their total pay ran to £3.2m with a further £1.4m for their pension pots. The highest paid of the foursome got £2.1m by way of pay and £1.3m for his pension, making a total of £3.4m.