BW: Workplace Experts has reported strong turnover and profits in its latest results.
Company accounts for the commercial fit-out business for the year ended 31 December 2022 also saw a stable cash position and a slight dip in company equity value.
“The Group continues to maintain a strong balance sheet for investment in the future development and growth plans of the business,” the Group wrote at the time.
Adding: “The geographic spread of our turnover continues to be generated from the South East of England, within the Commercial Office sector and Education via traditional individual contracts and an increasing number of frameworks.”
Highlights
- Turnover: £216.3 million (FY2021: £145.1 million)
- Gross profit: £13.4 million (FY2021: £11 million)
- Operating profit: £1.7 million (FY2021: £176,533 loss)
- Profit before tax: £1.8 million (FY2021: £176,713 loss)
- Profit for the year: £1.3 million (FY2021: £5 million)
Cash (at the bank and in hand) was reported at £19.8 million, compared to £20.4 million in the previous financial year.
Net assets and total equity were valued at £13.1 million (FY2021: £15.3 million).
Cost of sales was reported at £134 million in FY2021 but had increased to £202.9 million in the latest reported financial period.
Ordinary dividends were paid, amounting to £3.5 million, compared to £2 million in FY2021.
The directors did not recommend payment of a final dividend.
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