Margins at modular specialist come in at 5%
Modular specialist Reds10 has seen revenue jump more than two-thirds to over 拢140m as the firm improved pre-tax profit by a third, its latest set of accounts have revealed.
Turnover was up 70% to 拢142.5m in the year to March with pre-tax profit up 37% to 拢7m 鈥� giving the firm a pre-tax margin of just under 5%.
The firm said it has targeted the education, defence and justice sectors which has seen its order book rise to 拢300m.
Its workloads during the year have include jobs for the RAF, temporary accommodation for schools and so-called rapid deployment cells for prisons.
The firm has five factories in East Yorkshire which combined give it manufacturing space of over 250,000 sq ft.
In a statement accompanying the accounts, chairman Paul Ruddick said: 鈥淲hilst Reds10 remains well insulated from wider global economic instabilities our sector continues to manage rises in material costs: to address this we have reviewed and where appropriate reset and reinforced our supply chains to mitigate future risk.鈥�
The firm said it expects turnover for the current year to be 拢160m.
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