Rise in bottom line comes despite fall in income
Pre-tax profit at Careys was up more than a fifth last year, the firm’s latest report and accounts filed at Companies House show.
Profit at the building and civils specialist jumped 21% to £7.5m on turnover down 3% to £388m in the year to September 2024. Net cash at the year-end was flat at £24m.
The firm said its BDL drylining arm, which has worked on jobs for Mace at 81 Newgate Street, set to be the new St Paul’s headquarters of HSBC, and 76 Upper Ground, the former IBM building being revamped by Multiplex, had an order book of £50m.
Its bigger Careys arm, which includes its demolition, basement and substructure work, had orders worth over £350m going into the new financial year.
Meanwhile, in separate accounts published at Companies House, the firm’s parent Araglin Holdings had net cash of £43m, down from £48m last time, and net assets up 4% to £143m. Turnover was down 3% to £390m but pre-tax profit recovered from £657,000 to £6.5m.
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