Building services company Gratte Brothers has delivered increased revenue and profit margins in its latest financial results.
Turnover for the year ended 31 March 2024 was £226.6 million, up from £219.6 million the year prior, generating a pre-tax profit of £2.6 million (FY2023: £2.5 million).
Gratte Brothers is a third-generation family-owned company operating primarily within the data centre and commercial buildings markets.
“The company has performed in line with expectations over the course of a challenging year, with the lasting impact of Brexit, the wars in Ukraine and the Middle East and the effects felt industry wide such as material supply and inflationary pressures, which have all been closely managed,” said the business.
It added: “The directors consider the company well positioned to continue adapting to current economic and political uncertainties.”
At the year end, Gratte Brothers’ balance sheet had net assets and total equity of £12.9 million, compared to £10.7 million recorded the year before, with cash reserves of £12.3 million (FY2023: £11.6 million).
The London-headquartered business turned in an operating profit of £2.6 million, compared to £2.5 million in the previous year.
Gratte Brothers posted profit for the year of £2.1 million, roughly in line with the £2.2 million recorded the year prior.
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