Turnover and pre-tax profit have increased for an Inverness construction firm
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Turnover and pre-tax profit have increased for an Inverness construction firm.
Compass Building and Construction Services is predicting the positive results will continue, stating in a strategic report accompanying its latest accounts: “The business forecasts that turnover for the year ahead is likely to be similar to that of, or indeed up on, that delivered in the year just past. Furthermore, it is anticipated that margin will follow a similar pattern also.”
Turnover for the year ended September 30, 2021 was £34,271,505, up from £23,417,377 for the previous 12 months. For the same period, pre-tax profit increased from £646,806 to £987,118.
The report added: “Following the disrupted (Covid affected) trading cycle of the previous year, it is exceptionally pleasing to record that in the latest reporting period the business has moved back to a more predictable rhythm, at least in terms of turnover.
“Indeed, financial year 2020/21 has been the busiest year in terms of throughput that the business has experienced since inception.
“While this may appear a surprising statistic, when set against the uncertain backdrop of a global pandemic, we had signalled last year our confidence that the trading patterns in the immediate aftermath of lockdown and furlough would continue to be strong and in this respect we have been vindicated.”
As the firm keeps an eye on Brexit-related developments, it warned: “The availability of quality tradespeople to maintain and produce the high quality of product that is synonymous with Highland construction remains a concern and the reluctance of some sectors of the industry to (re)engage apprentices while we move through period of continuing uncertainty will only serve to create a further gap in skills development and resource in future years.”
The firm’s average number of employees increased from 115 in 2019/20 to 118 in 2020/21, while staff costs increased from £5,195,725 to £5,996,016.
