Contractor says impact of Ukraine war hits bottom line

Demolition contractor Brown & Mason Group saw profit slip last year as the firm said the impact of the war in Ukraine hit its bottom line.

Pre-tax profit fell 85% to 拢518,000 on turnover down 2% to 拢50m in the year to April 2023.

The firm was one of 10 demolition contractors fined last year by the Competition and Markets Authority (CMA) following its probe into bid-rigging in the sector.

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Brown & Mason was one of 10 firms fined last year by the CMA after a probe into bid-rigging

It was hit with a 拢2.4m penalty and last May Nicholas Brown, managing director of the Brown & Mason Group, and before managing director of Brown & Mason for five years until it went into administration in September 2020, was disqualified from being a director for seven years.

His penalty was due to start last July but an update in Brown & Mason鈥檚 accounts, signed off last week, says this has been suspended pending an appeal by Brown which finished last October and a final verdict on which has still to be made.

Brown & Mason said it had appointed a non-executive director responsible for compliance to its board in the wake of the CMA investigation.

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