Façade specialist, The Clarison Group, has attributed losses reported in its latest financial statement as largely due to the pandemic.
“Although the group was loss making in the year, the directors are satisfied that a substantial portion of this loss is attributable to the residual impact of the Covid-19 pandemic,” said the company.
It added: “The group is expected to deliver another record revenue performance in 2023, leading to a return to profitability and positive net asset position.”
The cladding and glazing specialist reported a loss for the year ended 31 December 2022, after tax, of more than £7.7 million, building on a loss of £3.8 million in FY2021.
Turnover for the year, however, was £84.8 million, up from £58.1 million in the previous financial period.
Clarison’s net (current) liabilities at year end were reported at £4.5 million (FY2021: £5.3 million)
The group also declared negative shareholders’ funds of £2.5 million (FY2021: £4.6 million).
No dividends were declared in the financial period or the one prior.
The Clarison Group brings together four brands in the field of building envelope technologies within Ireland and the UK – Alucraft Ireland Limited, Alucraft Systems UK, EAG and Williaam Cox.
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