11th Mar 2019 12:22
LONDON (Alliance News) - Mountfield Group PLC said Monday it "improved strongly" in 2018, achieving record revenue.
The commercial flooring and construction services firm said its revenue in 2018 was the highest it has recorded since listing on London's AIM in 2008. Mountfield said it is also confident of achieving a higher profit in 2018 than in 2017.
In 2017, Mountfield recorded a pretax profit of GBP864,372 on revenue of GBP12.7 million.
Mountfield - which operates through two subsidiaries Connaught Access Flooring Ltd and Mountfield Building Group Ltd - said it has experienced "buoyant" demand in 2018 despite "much" of the construction industry suffering from the unresolved Brexit negotiations.
Mountfield said this demand is reflected in the increase in its secured work compared to this point last year. At the end of January, the value of Mountfield's orders secured stood at GBP10 million compared to GBP8.8 million at the end of March in 2018.
Connaught Access Flooring's order book currently stands at GBP3 million with Mountfield Building Group's order book valued at GBP7 million.
"We are delighted that the group performed so well in 2018. Both Connaught Access Flooring and Mountfield Building Group delivered the strong performance that the directors expected and we believe that the quality and strength of the group's client base will result in further projects secured and continued growth," said Chief Executive Andy Collins.
Due to the company's record order book, Mountfield is confident of producing "another strong year" in 2019.
Shares in Mountfield Group PLC were up 2.3% Monday at 1.54 pence each.
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