Simons Group has posted a 33% fall in turnover for the year ended

The figure was down from £221.6m in the previous year to £148.7m although pre-tax profit was up from £3.3m to £3.4m owing to an increase in receivable interest.

The Lincoln-based group said all areas of the business had been affected, and a company statement warned: “As our retail clients constitute a large proportion of our turnover, the major commercial risk to the business would be a downturn in the retail market or the loss of a key customer.”

The highest paid director took home £152,236, which was up 5% on last year’s figure of £145,223.