14th Jun 2019 08:18
(Alliance News) - Construction and flooring firm Mountfield Group PLC said Friday that annual profit and revenue surged amid an "extremely successful year" in which both units delivered strong volume and order book growth.
Shares in Mountfield were 4.4% higher at 2.09 pence each in London on Friday morning.
In 2018, pretax profit widened 27% to GBP1.1 million from GBP864,372 million the year prior. This was after revenue jumped 28% to GBP16.2 million from GBP12.7 million the year before.
Mountfield Chair Peter Jay described 2018 as "another extremely successful year" with both its Mountfield Building Group and Connaught Access Flooring trading units having "traded successfully and provided the group with an increasing volume of business and an active and growing order book."
Mountfield does not pay a dividend.
Jay added that the firm is "very well placed to capture significant new quantities of business that is expected to flow from the data centre and telecoms sectors as a result of the introduction of 5G networking technology beginning in 2020."
"CAF and MBG both operate in markets where demand for specialist construction services for the telecoms sector is strong and is likely to increase," Jay continued. "With the benefit of their low-cost operations, excellent client bases and reputations for completing contracts on time and to an extremely high standard, they have the potential to capture a greater share of work from existing or new clients."
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