Prater enjoys 44% jump in turnover to £67m

Prater, the specialist envelope contractor with operations in roofing, cladding and curtain walling, has enjoyed a 44% jump in turnover to £67m.

The group’s latest financial figures cover the 12 months to 31 December 2007.

Pre-tax profit doubled to £3.7m, producing a profit margin of 5.5%.

Prater is active in several business sectors: commercial, leisure, retail, industrial and residential developments. Landmark projects include Arsenal’s football stadium and Pier6 at Gatwick airport.

The company has 40 in-house designers and makes use of the off-site manufacture of roofing and walling elements.

The directors said they were “happy” with the latest profit, adding that the orderbook remains strong through to 2009.

The company headquarters has moved to Salfords, close to Gatwick.

Creditors are paid within agreed terms, said the company, which vary between 30 and 90 days, though Prater’s results omit any figure for average creditor days.

A dividend of £700,000 was paid to shareholders.

The balance sheet shows a 93% growth in net worth to £3.9m while the cashflow statement shows a shift from an opening figure of £2.2m to end the year at £2.0m.

The total cost of wages and salaries jumped from £7.8m to £10.7m as the number of employees rose from 176 to 203.