黑洞社区

Bowmer & Kirkland (B&K) has reported a 53% jump in annual pre-tax profits.

In its full year year results for the year ending 31 August 2016, the Derbyshire-based contractor said pre-tax profits were 拢61.5m, up 53%, on the 拢27.1m recorded last year.

The company鈥檚 turnover was 拢930.7m, an increase of 9.7% compared to the previous year.

Reporting its numbers, privately-owned B&K said operating profits were up 28% for the year, at 拢52.7m.

The firm said long-standing joint venture projects were 鈥渃oming to fruition鈥�, while its housebuilding operation had had what it described as an excellent year鈥�.

Net cash in the bank stood at 拢268m at the year鈥檚 end, which the business said meant that it was able to provide equity funding for developments and finance joint venture arrangements 鈥渁s they arise鈥�. B&K said it was 鈥渁ctively seeking鈥� further joint ventures opportunities.

The value of net assets stood at 拢360m at the year end, an increase of 12% compared with 2015.

The impact of the vote to leave the EU had yet to be seen, the company added, but the group was 鈥渨ell placed to take advantage of any available opportunities in the market place in which we operate鈥�.