Byrne Group has recorded increased revenue and healthy profits in its latest financial report.
Accounts for the year ended 30 June 2023 show group turnover of £191.3 million, compared to £152.7 million in the previous financial period.
Gross profit was £18.9 million (FY2022: £14 million), while operating profit was £7.9 million (FY2022: £6.2 million).
Pre-tax profit for Byrne Group was recorded at £6.7 million compared to £6.3 million the previous year, while profit for the year was £5.3 million (FY2022: £5.1 million).
Total income for the group in FY2023 was £5.8 million (FY2022: £5.7 million).
Byrne Group’s cash position was down on the previous financial period (FY2022: £48.6 million) to £24 million.
Net assets and total equity were valued at £27.7 million (FY2022: £22.3 million).
The group focuses on the London construction market through its four main subsidiaries: Byrne Bros. (concrete frame contractor), Ellmer Construction (refurbishment and fit-out), O’Keefe Construction (groundworks), and O’Keefe Demolition.
Directors agreed the group had delivered a strong financial performance amid a “very challenging economic environment”.
Was this interesting? Try New office and refurbishment jobs at record high
If you have a tip or story idea that fits with our publication, please contact the head of editorial firstname.lastname@example.org
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.