Newport-based contractor and shopfitter Dudley has broken through the £1m pre-tax profit barrier for the year ended 31 August 2007.

Over the 12 months, pre-tax profit rose 29% from £898,268 to £1.2m. Despite the rise in profit, turnover fell 4% from £52.2m to £50.3m.

The group blamed the fall on a “slow start to 2007”. It said: “The anticipated commencement of agreed contracts was held up.”

The turnover broke down into £36m from construction, £12m from architectural aluminium and £2m from shopfitting.

The highest-paid director’s pay was reduced by 24% from £270,418 to £204,653. The average wage was £38,939.