Contracting group posts solid full year results

Clarendon Centre, Oxford

Clarendon Centre, Oxford

Shepherd Group has posted solid results for the financial year ended 30 June 2012, with turnover up nearly 10% to £671.6m from £611m the previous year.

Pre-tax profit fell 12% to £27.6m from £31.5m, but the group posted a rise in underlying operating profit – which strips out exceptional one-off costs – of 4% to £25m from £24m.

Each of Shepherd Group’s divisions – Shepherd Group Built Environment, Shepherd Group Engineering and Portakabin Group – achieved turnover growth.

Staff levels at the firm dropped marginally to 3,146, from 3,187 the previous year.

Group chairman Alan Fletcher said:“Strong management aligned with quality products and services have ensured that the Group continues to make steady progress against a very challenging market backdrop, driving the business for profit and value growth for the shareholders.

“The completion of our business restructuring and the recruitment of new senior executive management continue to give confidence in the underlying potential of the Group.”

Shepherd Group won a contract to revamp the Clarendon Centre shopping centre (pictured) in Oxford last week.