Supplier fends off higher energy costs and a tough UK market to increase profit by 150%.
Materials supplier Ennstone has recorded a £3m rise in pre-tax profit for the first half despite higher energy costs and challenging UK markets.
The company saw its pre-tax profits rise over 150% to £5m for the year ended 30 June, up from £1.9m across the same period last year, while turnover jumped 52% to £80.7 million.
The firm’s growth was bolstered by the performance of subsidiary Johnston, which it acquired last year. The results were also boosted by strong performances from the firm’s Scottish and US businesses.
Ennstone chairman Vaughan McLeod said that the firm’s performance was in line with expectations. He said: “Overall, our UK aggregates business delivered a good performance although our English operations faced more difficult market conditions. The UK building products business performed in line with expectations.”