Construction News

Fri March 29 2024

Related Information

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.”

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »