The operating company鈥擧ughes & Salvidge Limited鈥攄elivered an operating profit of 拢1.3m, on gross profit of 拢8.4m. Profit before tax was 拢1.25m; after tax profits were 拢1.07m. Taking into account an actuarial gain on its defined benefit pension scheme of 拢386,000 and taxes of 拢96,500, both up on the prior year, the company reported total comprehensive income of 拢1.35m, up from 拢1.27m.
The slippage at the operating company came during widespread economic uncertainty. The company says it is aiming to build resilience through operational discipline, selective project management and careful financial management.
The company has also focused on strengthening its net asset position. At the operating company, net assets increased to 拢12.3m, up from 拢10.9m in the year to March 31 2025.
The company says that it is aiming to pursue opportunities in the UK, while developing its work overseas. In the year to March 31, it continued work in Portugal, while tendering for further overseas opportunities.
While the group's operating company, Hughes and Salvidge Limited reported a profit, holding company Hughes and Salvidge Demolition Limited recorded goodwill amortisation of 拢1.5m. This resulted in a net loss after tax of 拢0.3m, compared to a net loss after tax in the year to March 31 2025 of 拢0.1m.
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