6th Apr 2020 16:16
(Alliance News) - Construction services firm Mountfield Group PLC said Monday it expects net profit for 2019 to be in line with the figure achieved for 2018, despite the highest level of turnover recorded since listing in 2008.
Net pretax profit for 2018 was GBP1.1 million.
In terms of subsidiaries, Connaught Access Flooring Ltd's major sites are operating, albeit with revised working practices. Meanwhile, Mountfield Building Group Ltd's major sites have been closed until the current lockdown regulations are relaxed, which have also led to a delay in orders received.
Looking ahead, Montfield hopes that projects delayed or currently being tendered for will be resurrected by the end of the second quarter or early in the third quarter of 2020, and will provide a good flow of work for beyond.
To date, the group's secured order book to date is GBP5.6 million, lower compared to the same date in 2019.
Shares in Mountfield were 12% lower at 0.79 pence on Monday in London.
By Dayo Laniyan; [email protected]
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