Warwickshire construction equipment supplier PERI Limited has published its latest financial results.
Accounts for the year ended 31 December 2022 show turnover of £62 million, compared to £67.1 million in FY2021.
The business reported a slightly diminished operating profit on the previous financial period of £5.9 million (FY2021: £6 million) – and gross profit of £35.5 million compared to £36.9 million in the year before.
Profit before tax amounted to £5.8 million compared to £5.9 million in the prior year – and profit for the year was reported at £4.2 million, up from £3.8 million in FY2021.
Its cash position was stable at £2.4 million (FY2021: £2 million).
A dividend of £3.5 million was also declared and paid during the financial period (FY2021: £5 million).
The balance sheet showed the company had net assets and shareholder funds valued at £48 million, compared to £47.2 million in the previous financial period.
“The conflict in Ukraine and subsequent sanctions on Russia and Belarus brought unexpected and significant pressures to raw material availability and prices for most of 2022,” the business said at the time. “This followed similar difficulties in 2021, albeit caused by different factors as the global economy awoke from the Covid-19 pandemic. In addition to raw material, the conflict in Ukraine also caused unprecedented price rises in energy costs, affecting our manufacturing and operating cost further.
“The company continues to monitor and adapt to the impact of Brexit, political and global disruptions. Employment remains difficult due to the ending of EU citizens’ right to work in the UK. Additional pressure is also being experienced as large infrastructure projects require large numbers of staff with similar skillsets to our own.”
Adding: “The directors will continue to develop the management policies required to keep the business in a strong position to respond to further opportunities the improved market brings and build on our market share.”
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