Brown & Mason: 67% jump in pre-tax profit to £1.4m

Brown & Mason, the demolition contractor, has enjoyed a rise in pre-tax profit to £1.4m.

The group’s latest figures cover the 12 months to 30 April 2008.

Turnover ran to £31m which was £5m higher than the previous figure of £26m. Pre-tax profit in the previous year ran to £850,000.

Commenting on the latest figures, the directors said that they were pleased to report “another progressive year of trading”.

They added: “During the year, the company completed a number of high-profile projects in line with customer requirements and completion timetables. The company continues to secure new projects.”

Investment in plant and machinery during the year ran to £1.4m which is on top of the £4m spend in the previous two years.

B&M’s net funds at the end of the year were £790,000 which was an improvement on the debt of £510,000 at the same time 12 months earlier. Financing charges ran to £1.2m.

There was no dividend paid to shareholders.

Staff numbers were 201 which divides into:

• 140 on contract and site
• 47 distribution and maintenance
• 14 administration

The highest-paid director took home £360,000 plus another £3,000 for his pension. In the previous year his salary of £358,000 was topped up with a further £36,000 that went into his pension pot.