Raymond Brown pre-tax profit down 21%

Pre-tax profit at Hampshire-based civil engineering firm Raymond Brown has dipped 21%, as it revealed its financial results for the year to 31 March 2009.

Company chairman Ron Isaac said that the firm had "traded well" despite an acute downturn in the economy, which caused the company's annual turnover to drop almost 11% to just under £59m.

Isaac also paid tribute to the company's founder Raymond Brown who died in December. "Raymond was well known throughout the industry, he put far more into it than he ever took out and will be remembered for his charisma and ability to deal with people of all levels," he said.

The company also reported that it had a cash balance of £3.9m for the year end, and had been able to renew its banking facility for 2010 at the same level and on the same terms as 2007.

The highest-paid director received £140,000 for the year, down slightly on the £169,000 pay packet of the previous year.

The firm was recently named as one of ten companies to make the cut on the £200m+ Welsh highways civil engineering framework, and was one of 22 companies to find a place on a £75m framework to cover general building works for Southampton City Council.