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Record-breaking turnover results announced
10:07am Friday 6th June 2014 in Business
A CONSTRUCTION and distribution group has revealed record-breaking results.
The Clugston Group says turnover increased 26 per cent to £231m in the financial year, with pre-tax profits rising to £6.3m.
The company’s construction division, which has offices in Hebburn, South Tyneside, saw turnover rise to £136.7m from £97.5m, marking a third consecutive yearly growth of more than 30 per cent.
The business is working on the £4.2m Exelby Services’ truck-stop and petrol station on the A1 at Leeming, in North Yorkshire.
Bosses also revealed its distribution arm, which has a base in Billingham, near Stockton, saw a 21 per cent rise in turnover to £13.2m.
Stephen Martin, group chief executive, said: “These are our best ever set of results.
“That means we have solid foundations to develop, and while we believe 2014 will continue to be challenging, we remain confident for the future.”