August 28 2015 Latest news:
Ben Woods, Business editor
Wednesday, August 20, 2014
Bosses at Drayton-based RG Carter Group said the company is “well placed” to capitalise on the improving economic picture despite challenges in the building industry.
The construction company saw turnover rise £22.8m to £261.4m to December 31 2013, as pre-tax profits fell marginally from £5.4m to £5.1m.
Meanwhile, RG Carter Construction Ltd saw turnover rise £26m to £239m over the same period.
In an chairman’s statement accompanying RG Carter Group’s latest results, Robert Carter wrote: “2013 was another challenging period for the construction industry; although activity levels and opportunities undoubtedly improved after nearly five years in recession, the expansion in the housing market and the lag in adjusting to the increase in demand have led to inflationary pressure on costs with the consequential effect on margins.”
Mr Carter said the group’s cash position had strengthened as the business moved to invest £11m in assets and acquisitions.
“As a financially strong private company, we have always been flexible enough to adjust to changing market conditions,” he added.
“This together with the benefits we have gained from the long-term investment in our business, the continued investment in craft and professional training for our employees, a long standing and loyal client base and an able and dedicated staff, has enabled us to follow a consistent strategy to ensure that we continue to add value for our customers and develop a resilient and sustainable business for the future.
“I am delighted that the group has been awarded a number of major projects that will be delivered in 2014 and that it has significant opportunities for 2015.
“As a consequence I anticipate that we will be able to report another profitable year in 2014.”
The EDP Top100 company started on work in June on a contract with Dentan Williams for a Tesco store off the A141 Fenland Way at Chatteris in Cambridgeshire.
It has also sealed a deal to build and fit out a new 5,500m2 BioFocus laboratory and HQ facility – named The Robinson Building – at Chesterford Research Park, which is due to be finished early next year.
A spokesman on behalf of R G Carter Group Ltd said: “The board is pleased with the result given the difficult times the industry has faced. The business is in good heart and well placed to take advantage of the upturn in the economy.”