Contractor posts £1.7m pre-tax profit on ‘stable’ revenue of £29.4m
Scottish-based Dunne Group has returned to the black, registering pre-tax profit of £1.7m for the year to 31 October 2011.
The building contractor and concrete-frame specialist had recorded an £83,000 loss for 2010. It said revenue remained stable at the £29.4m mark.
Managing director Gordon Dunne said the year had been busy and challenging but ultimately “very successful” as the firm expanded its client base across the UK.
“A critical element of our recent financial performance has been our policy of re-investment in new equipment and infrastructure, which has enabled us to maintain our position as a leader in the field of new building techniques as we continue to deliver innovative works on iconic projects,” he said.
“Our expansion into new market regions provides us with a confident outlook as we continue to secure new business opportunities across a resurgent market place.”
Dunne Group is currently working on the new Southern General Hospital in Glasgow in partnership with Brookfield Multiplex. The work pipeline is expected to run into 2015.
The firm also expanded its regional office network to London during the past 12 months following the agreement of a number of successful packages between the group companies on the Olympic Athletes’ Village, The Shard, and at Milton Court, London.
Additionally, the group secured a £35million concrete package on the 100 Bishopsgate project in the City of London.
As well as its Bathgate headquarters, Dunne Group also has regional offices in Leeds and Manchester.