County Durham firm Banks Group saw profits fall 44% as the end of its coal mining operations, delayed planning permissions and disruptions caused by Covid impacted its bottom line.
The renewable energy, property, mining and transport firm has posted results for the year ended September 30 2021 which show a fall in combined operating profit from £26m to £18m.
But it said it is continuing its transition into a growing range of business areas, with the loss of revenue from its mining business being made up by earnings from its property and renewables businesses, which are expected to perform strongly in 2022.
