Firm expecting 40% hike in next set of results
Turnover at demolition firm McGee is expected to be up by more than 40% this year, the firm has said in its latest results.
Revenue for the 12 months to November 2022 was down 10% to 拢83m but the firm said it expected income for the current year to more than 拢120m. Pre-tax profit last year edged up 3% to 拢6.1m.
The firm said it has mitigated the impact of rising material prices 鈥渂y having mature discussions with clients about how manage the risk best鈥�.
McGee, which was one of 10 firms fined by the Competition and Markets Authority for its role in the bid-rigging scandal which hit the demolition sector, said it had accounted for the 拢3.7m fine it was handed by the cartel-buster earlier this year.
McGee operates as an employee ownership trust with a bonus of 拢558,123 shared between the firm鈥檚 350 staff, the accounts added.
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