William Hare profit drops 60% to £1.4m

Constructional steelwork contractor William Hare saw pre-tax profit drop to £1.4m last year from £3.6m previously as the pandemic raised costs.

Revenue slipped by 5% to £134m at the steelwork contractor which forms a major part of the group.

Chief executive and chair Susan Hodgkiss said that despite a tough year William Hare was looking forward to a strong pipeline of work for this year and next.

“The order book position for the business is extremely strong at the balance sheet date and further sigificant contracts have been awarded in 2021.

“While the impact of the Covid 19 pandemic is being closely monitored it is encouraging to note that quality projects continue to come to market and the company’s pipeline of opportunities remains healthy.”

Cash at bank remained stable at £18m with average staff numbers last year marginally ahead at 673.

The wider group business, which incorporates international subsidiaries and employs 1,781 staff, reported pre-tax profit of £2.4m down from £5.3m on revenue of £192m.


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