Roger Bullivant’s pre-tax profit has more than doubled thanks to the group’s good performance in the residential market.
The foundation engineering specialist posted a profit of £7.5m for the year ending 31 December 2022, up from £3.2m the previous year.
Turnover increased by 18 per cent from £78.2m to £91.2m, while net assets increased by more than 40 per cent to £14.7m.
Directors’ pay stood at £509,000 (compared to £448,000 the previous year), with the highest-paid director earning a package worth £242,000.
A dividend of £1.5 million was paid during the year.
Based in Swadlincote, Derbyshire, Roger Bullivant is one of the Top 10 Ground Engineering Contractors in the 2023 CN Specialist Index.
The company attributed the results to its success in residential housing, but sounded a note of caution on output for the current year.
“The company had strong activity levels throughout the year with a particularly strong performance in one of the company’s key market sectors, residential housing,” said director Graham Trafford.
“[It] it has also successfully carried out work in non-residential sectors and considers it an important part of the company’s offer that can be further developed”.
The company will continue to look for ways to grow its profitability through increased market share, access to new markets, improved site productivity and long-term relationships with key customers and partners, he added .
Despite the positives, the company expected activity to decline in 2023 amid deteriorating economic conditions and rising interest rates.
“However, thanks to the continued emphasis on site efficiency and cost control across the business, the board is confident of a strong performance in 2023,” Trafford said.
