Bullivant enjoys jump in profit to £3.4m

Roger Bullivant enjoyed a jump in pre-tax profit last year to £3.4m, well ahead of the previous figure of £2.3m.

Turnover in the 12 months to 28 October 2007 ran to £130m, representing a rise of 14%.

During the period Bullivant bought Buchan Concrete Solutions, a pre-cast concrete business, from Amec as the latter moved out of the construction sector. The move added 170 people to the firm’s tally of employees.

Bullivant opened new offices in Yorkshire and Wiltshire.

The sum set aside as provisions for liabilities jumped to £7.0m which was well up on the previous figure of £4.7m.

Bullivant said: “Provision is made for the estimated liability in respect of remedial work which may be required to carry out under guarantees issued in respect of work carried out in the current and past years.

“The provision represents an estimate of the total liability to the company. However, insurance contracts are in place to reduce the company’s exposure."

Elsewhere in Bullivant’s accounts, the amount shown as due from insurers is put at £3.7m - there was a figure of £2.1m due from insurers at the start of the financial period.

Bullivant had 1,070 employees and the bill for wages and salaries rose to £35m.

The highest paid director was paid £762,000 which was well ahead of his previous take-home tally of £465,000.

Three months ago Bullivant vigorously flattened the suggestion that up to 150 employees could be laid off after the Burton Mail, the local paper, had run with the figure based on its contact with employees of the Drakelow-based group.

The paper added that staff faced disciplinary action if they spoke to the press.