Lancer Scott FM posts 45% increase in turnover

Lancer Scott has reported a huge increase in turnover in its latest results. 

Full accounts for the Bristol firm to 30 September 2022 saw a 45% increase in turnover and an improved cash position. 

Lancer Scott’s two main operational divisions are facilities maintenance (FM) and construction.  

“The Company continued to restructure and implement new systems against a backdrop of economic uncertainty,” said the company. 

“Costs were volatile, a post-Covid marketplace and storm clouds loomed on the economic horizon.” 

To mitigate the economic risks, Lancer Scott invested “heavily” in its FM division which “traditionally performs well in a recession”.  

“Against this backdrop the Company achieved an increase in turnover of 45%, while maintaining profit margins,” it added.  

Highlights 

• Turnover: £77.7 million (FY2021: £53 million) 
• Cost of sales: £64.4 million (FY2021: £42.2 million) 
• Gross profit: £13.3 million (FY2021: £10.7 million) 
• Operating profit: £3.3 million (FY2021: £2.7 million) 
• Profit before tax: £3.2 million (FY2021: £3.1 million) 
• Profit for the year: £2.9 million (FY2021: £2.6 million) 

Company cash (at the bank and in hand) was reported at £2.3 million, compared to £2.1 million the previous year.  

Net assets (including P&L account) were valued at £6.9 million, compared to £15.7 million in 2021. 

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