William Hare’s profit drops 60% to £ 1.4m

Sales for the steel construction company, which makes up much of the group, fell 5% to £ 134 million.

CEO and Chairman Susan Hodgkiss said that despite a difficult year, William Hare looks forward to a strong pipeline of work this year and next.

“The order backlog in the business was extraordinarily strong as of the balance sheet date and further important orders were placed in 2021.

“While the effects of the Covid-19 pandemic are being closely monitored, it is encouraging to see that quality projects continue to hit the market and the company’s pipeline of opportunities remains healthy.”

Bank balances remained stable at £ 18m, with the average headcount being slightly higher last year at 673.

The broader group business, which includes international subsidiaries and employs 1,781 people, reported a pre-tax profit of £ 2.4m compared to £ 5.3m on sales of £ 192m.

Aaron Morby

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