Change of fortunes for Highland trades specialists
Register for free to read more of the latest local news. It's easy and will only take a moment.
An Inverness firm has moved back into the black.
Korrie Mechanical and Plumbing recorded increased pre-tax profit and turnover in the year ending February 29, 2020.
It came after the firm – which specialises in plumbing, mechanical and electrical services, as well as sales and installation of renewable energy products – experienced a pre-tax loss in the previous 12 months.
Accounts show the pre-tax loss of £173,860 in 2018/19 moved to a pre-tax profit of £331,326 in 2019/20. For the same period, turnover increased from £15,040,365 to £16,752,889.
A strategic report accompanying the firm’s latest accounts stated: "At the date of signing these accounts, coronavirus represents both a risk to the business and its people. The company is taking active measures to ensure its people remain safe and healthy.
"Measures include supplementary education on cleanliness, self-isolation, social distancing and the ability to work from home or in roster patterns where necessary.
"There are regular business continuity and health and safety meetings to ensure compliance with the measures introduced.
"The directors have considered the effect of Covid-19 on the company and do not believe it will affect the company’s ability to continue to trade for the foreseeable future.
"As with most businesses, there are some short-term practical difficulties which are being managed. The severity and length of the economic downturn is unknown due to the uncertainty of the social distancing measures enforced by the UK government."
The average number of employees dropped from 136 in 2018/19 to 122 in 2019/20, while staff costs increased from £4,953,279 to £4,990,160.
The ultimate parent company is Edwin James Group.
Related story: Renewable energy firm expects a change in fortunes
