Yorkshire-based offsite modular building specialist, Premier Modular, has delivered a healthy set of financial results as well as expanded its operations across Europe.
Turnover for the year ended 30 June 2023 was £105.7 million, down slightly from the £112.4 million achieved in the previous financial period, generating a pre-tax profit of nearly £14.7 million (FY2022: £16.5 million).
The Driffield-headquartered portable building manufacturer reported an operating profit last year of £13.8 million, down slightly from the £16.4 million it saw in the prior financial year.
At the year end, Premier Modular’s balance sheet had net assets and total equity of £66.7 million, a marked increase on the £55.5 million recorded the year before, with cash reserves of close to £3 million, compared to £13.9 million in FY2022.
The group posted profit for the year of £11.2 million, following £13.6 million achieved in the prior trading period.
Premier Modular is part of Premier Modular Group and operates across a diverse range of market sectors including education, healthcare, retail, defence, infrastructure and social housing.
The company recently also expanded its operations into Northern Europe and that business is expected to reach profitability in the year to 30 June 2025.
Its Dutch subsidiary, Premier Modular (Netherlands), continued to grow its domestic pipeline and elsewhere in Europe during the period and is expected shortly to enter into customer contracts.
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