Northumberland major employer Thompsons of Prudhoe says it is planning a number of investments following a successful year of trading.
The group – best known for its demolition and dismantling activities but also specialists in earthmoving, quarrying, waste management, recycling and haulage – has posted big increases in turnover and profits in latest accounts for the year ending March 31 2022. The group, which was launched in 1948, reported 77% growth in revenue from £39.5m to £69.68m, while operating profit also soared from £1.05m to £7.2m.
The overall profit for the year increased significantly from £664,501 to £5.2m. Chairman John Thompson said: “Due to the large demolition and dismantling projects carried out this year, and given the ongoing impact of Brexit and Covid-19, the directors have reviewed the performance of the business and are content with the result. The balance sheet position is considered adequate for the needs of the company for the foreseeable future.
