Thompsons of Prudhoe has delivered strong revenue and profits in its latest results.
Turnover for the Northumberland-headquartered demolition contractor for the year ended 31 March 2023 was nearly £73 million, compared to £61.5 million in the prior period.
Gross profit for Thompsons was £38.4 million (FY2022: £22.2 million), while operating profit was £16.3 million (FY2022: £6 million).
Profit before tax was £16.2 million (FY2022: £5.9 million), and profit for the year for Thompsons was £13.2 million (FY2022: £4.7 million).
The contractor’s cash position was reported at £687,034, compared to £4.9 million in the previous year.
A dividend of £5 million was paid during the year (FY2022: £2 million); however, directors did not recommend a final dividend (FY2022: £Nil)
Net assets were valued at £22.3 million (FY2022: £14.1 million).
“The balance sheet position, including the financing facilities and cash resources available, is considered adequate for the needs of the company in the foreseeable future,” said Thompsons.
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