Spencer: pre-tax profit climbs to £820,000

Spencer, the construction group based in Hull, has reported no change in its annual turnover of £72m. However pre-tax profit was much higher at £820,000, representing a rise of £360,000 over the previous figure.

Spencer’s latest financial results cover the 12 months to 31 January 2008.

Established in 1989, Spencer’s list of operations includes design, civil engineering, M&E and FM services.

Secured work at the end of May (four months ago) stood at £47m.

Spencer’s array of key performance indicators shows:

• 0.24 - accident frequency rate (RIDDOR), down from figure of 0.34 in previous year
• 1.3% - percentage of working time lost due to sickness
• 27% - staff turnover rate
• 36 tenders won
• 22% strike rate
• £167,000 turnover/employee
• £1.3m net funds (improvement on previous figure which showed a £3.1m debt)
• £2.1m cash inflow

Spencer’s bill for wages and salaries ran to £15m which was down from the figure of £17m in the previous year.

Staff numbers fell, down from 520 to 430. The latest total tally splits between 297 in administration and construction management, plus 133 employed on sites.