Masterson construction group profits down

Masterson Holdings construction group has delivered increased revenue but a drop in profits in its latest financial report.  

Turnover for the year ended 31 August 2023 was £152.4 million, up from £136.6 million in the prior year, generating a pre-tax profit of £2.9 million (FY2022: £6.7million).   

Operating profit for the Herts-headquartered group fell from £6.6 million to £2.8 million. 

While cash levels and net assets held relatively steady at £24.5 million and £37.4 million respectively.  

Masterson reported profit for the year of £3.2 million (FY2022: £5.9 million). 

“Our strong balance sheet, cash reserves, no borrowing and the strength of our management team enabled us to maintain our focus on our core activities as did our smart and more efficient use of systems, procedures and technology and embracing proven modern techniques,” the group said at the time.  

Masterson Holdings, which has been trading for 44 years, carries out construction projects for Tier One contractors across various public and private sector contracts including residential, healthcare, education, leisure, retail and commercial.   

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