M&E specialist Halsion Limited has reported a huge rise in turnover and increased profits in its latest financial results.
Accounts for the Kent building services engineer for the year ended 30 September 2022 also show a prudent approach to trading to protect the company from the external effects of industry insolvencies.
“The majority of turnover is achieved through repeat business from reliable and highly regarded main contractors, focusing on healthcare, retail, residential, commercial, industrial and leisure markets,” said the firm.
Adding: “The directors ensure Halsion is not overexposed to any one client to mitigate the risks posed by the potential failure of large contractors.
“The result of this prudent approach is reflected in a minimal number of irrecoverable debts not only during the year, but since the company started trading.”
Highlights
- Turnover: £72.8 million (FY2021: £42.7 million)
- Gross profit: £17.9 million (FY2021: £10.1 million)
- Operating profit: £7.2 million (FY2021: £3.4 million)
- Profit before tax: £7.2 million (FY2021: £3.4 million)
- Profit for the year: £6.9 million (FY2021: £3.2 million)
Cash (at the bank and in hand) was reported at £2.7 million, compared to £10.1 million in the previous year.
Net assets (including P&L) were valued at £2.6 million (FY2021: £6.9 million).
The directors paid an ordinary dividend of £11,214 per share, compared to £9,215 in the previous financial year.
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