Norwich contractor stays in black with cash in bank standing at £74m
Regional contractor RG Carter saw turnover top the £300m mark for the first time in three years as the firm hailed the strength of its balance sheet.
Latest accounts filed at Companies House by the Norwich-based firm show turnover hit £322m last year – a rise of 23% on 2021’s number and the first time the business has gone beyond £300m since the £317m it posted in 2019.
Pre-tax profit came in at £7m, down from £13.3m last time although this figure was swelled by a one-off £6.2m profit gained from a disposal.
Construction turned in a pre-tax profit of £1m, compared to £10.5m in 2021, while its building services arm saw profit stay flat at £500,000. But its developments arm turned in a £5m profit on turnover of just £9m, compared to a profit of £1.1m in 2021.
The firm said net assets stood at £133m – compared to £135.65m the year before – with cash in hand standing at £74m compared to £80m in 2021.
Chairman Robert Carter said: “A strong balance sheet allows the firm to remain agile and adapt as necessary to maximise opportunities.”
Staff numbers went up 5% to 807 at the year-end.
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