Piling contractor reports 45% pre-tax profit rise in year to October 2007 but warns downturn starting to bite

Pre-tax profit at UK piling contractor Roger Bullivant has increased 45% from £2.3m to £3.4m, although the company warned the credit crunch was starting to take its toll.

Turnover in the year to 28 October 2007 was also up - from £112.6m to £127.9m.

A company statement said: “Recently the company has felt the effects of the current downturn in the economy that appears to have especially hit the construction industry.

“Although this year is proving more challenging, we believe that the company is in a strong position with a broad range of good products and we remain optimistic that it will overcome the present difficulties in the marketplace.”

The firm's highest-paid director took home £761,842 - up 64% from £465,354 last year.