A Lancashire building firm has received a huge cash boost after a number of projects got off the ground.
John Turner Construction Group, the firm based in Grimsargh, near Preston, said its turnover for the year to the end of last March was lower than expected at £10.9m due to stalled projects.
But, its chairman, John Clarke, reported it has seen an upturn in the current trading year as projects got underway.
In its annual accounts, the company said it was looking “forward to the future with confidence” with £50m of its turnover secured for the year to March 2013 and a further £21m secured to the year to March 2014.
In his chairman’s statement, Mr Clarke said: “We returned a good result for 2011/12 and our balance sheet remains strong along with growth in our assets.
“We produced healthy cash balances within the year and have no borrowings within the group.
“Enquiry levels remained strong and it was very noticeable that these were received from a variety of sectors across our industry.
“This has no doubt resulted from our earlier investment in the ‘front end’ of the business.”
He said its head office in Grimsargh had been involved in a number or major projects including the building of a creche for Spar giant James Hall’s new depot in Fulwood, Preston, and the redevelopment of the Nautical Campus in Fleetwood.
In its annual accounts, published last month, it reported a fall in operating profits to £513,320, down from £621,533 for the previous 12 months, and pre-tax profits also down from £525,926 to £637,914 in the same period.
The report added the group’s directors were pleased with the trading results of its Wright Build and TL Electrical Services subsidiary companies.
It added: “Increased opportunities for growth have continued to arise from the acquisitions of these subsidiary companies.”