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Thu January 20 2022

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Osborne returns to profit

19 Jun 14 Contractor Osborne has reported a 27% rise in turnover and a return to profit.

Osborne recently rebranded - this is its new logo
Osborne recently rebranded - this is its new logo

The family-owned business saw its turnover climb to £325m for the year to 31 March 2014, up from £256m the previous year.

Profit before tax was £5.2m, which is a new record high for the company. The previous year saw a loss of £2.6m.

As at April 2014, the secured forward order book was £443m, 63% higher than the £272m booked a year before. Secured orders plus work under negotiation totals £663m compared with £351 a year before – an 80% increase.

The end-of-year cash balance stood at £25.6m, slightly down on the £27.8m of sa year earlier but this is after Osborne invested £5.5m in buying 40,000sqft of office space in Cambridge.

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