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Scaffolding specialist reports buoyant margin despite slower profit growth
['Ben Vogel']
Construction News
Profit growth slowed at GKR Scaffolding last year, although the firm’s margin remained above 20 per cent and it doubled its cash pile.
This was a slower rate than the year before, when its bottom line surged by £3.3m.
Turnover rose from £41.2m to £44.8m, representing slower growth than the £9.9m increase GKR posted the year before.
These increased by 17.4 per cent in the latest accounts and outpaced the firm’s 8.8 per cent sales growth, which was still better than the 5 per cent previously anticipated.
Average monthly headcount rose from 255 to 277 staff, and the firm’s annual wage bill increased by 12 per cent to £15.1m.