Cost Management Arm of Gleeds Sees Improvement in Turnover and Profit
Gleeds Cost Management, part of the wider Gleeds LLP business, has reported a 26% increase in revenue to £108m and a 33% rise in pre-tax profit to £3.4m.
According to the company's latest accounts filed at Companies House, operating profit also saw a significant increase of 41% to £3.8m.
The directors are pleased with the increase in revenue which shows a strong performance due to an increased focus on framework contracts. The increase in operating profit is a result of client and project mix.
- Revenue increased by 26% to £108m
- Pre-tax profit rose by 33% to £3.4m
- Operating profit increased by 41% to £3.8m
Gleeds LLP has around 3,000 staff working out of 78 offices in 26 countries and recently secured a refinancing deal with HSBC worth approximately £50m.
Author's summary: Gleeds Cost Management sees significant improvement in turnover and profit.