Domis Construction has posted increased revenue and healthy profits after construction projects and values remained robust last year.
Revenue for the year ended 30 April 2024 rose to £162.6 million from £146.2 million the year prior, generating a pre-tax profit of £6.4 million, compared to £6.2 million in FY2023.
“The directors are delighted to report yet another profitable year for the company, with both turnover and EBITDA increasing noticeably,” a financial statement reads.
“The number of live construction projects remains consistent with previous years, with the increase in turnover generated from larger value projects rather than more of them, thus ensuring the same level of controls across all our work streams.”
Domis, owned by Domis Property Group, turned in an improved operating profit of £5.98 million, slightly up from £5.91 million in the previous year.
At the year end, its balance sheet had net assets and total equity of £23.1 million, compared to £21.4 million the year before, with cash reserves of £6.9 million (FY2023: £5.2 million).
Ordinary dividends amounting to £3.9 million were paid, but Domis directors did not recommend payment of a final dividend.
The Wigan-headquartered business posted profit for the year of £5.5 million, compared to £7.6 million recorded the year prior.
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