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Tue June 22 2021

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Improvement for Tolent

22 Jul 13 Northeast contractor Tolent managed to reduce its losses last year and increase turnover.

Total turnover increased by £5m in 2012 to £110m, up from £105m in 2011.

An operating loss of £349,000 was reported, compared with an operating loss of £2.6m for 2011.

The pre-tax loss of £187,000 (2011: £ £2.8m loss) translated into a profit of £29,000 after tax credits.

The company’s main operating subsidiary, Tolent Construction, saw its operating profit fall 10% to £415,000 for 2012 (2011: £459,000), further slicing the operating margin from 0.43% to 0.38%.

Tolent Construction’s pre-tax profit was down 7% to £567,000 (2011: £610,000).

Chairman Peter Hems said: “Following the difficult trading conditions in 2012, the outlook for 2013 remains challenging. The current level of enquiries continues to be encouraging with a potential to increase turnover from the opportunities currently being pursued.”

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