London fit-out firm’s finances flatline

London-based fit-out specialist Oktra’s turnover and pre-tax profit has held steady, its latest accounts show.

Revenue decreased slightly compared with the year before, but the firm’s pre-tax profit and margin slightly improved.

Oktra’s latest accounts show a profit of £8.8m from turnover of £112.5m in the year to 31 May 2025.

These figures barely changed from the year before, when it turned over £113.6m and made a pre-tax profit of £8.7m.

The firm’s margin inched upwards from 7.7 per cent to 7.8 per cent.

Oktra – a subsidiary of investment firm Vensyn Group – was ranked eighth in the inaugural CN Specialists Index for fit-out contractors last year.

In the latest accounts, directors pronounced themselves “satisfied” with the static performance, saying it was in line with their expectations.

“Cash management remained a key focus,” they added, but cash at bank by 31 May had fallen to £11.6m, down from £13.6m the previous year.

The average time taken to collect payments from customers increased by 44 per cent to 39 days, the company added.

Oktra held no external bank loans or overdrafts, and paid out dividends of £5.4m, down from £7.4m the year before.

Despite the flatlining turnover and profit, the firm’s headcount grew from a monthly average of 181 to 195 staff.

This led to an 8 per cent increase in the annual wage bill, rising from £20m last year to £21.6m in the latest accounts.

Oktra’s project portfolio includes a 6,800 square metre warehouse job for Insight in Rotherham, Yorkshire, and a 12,000 square metre office refurbishment for Royal London Asset Management in Birmingham.

Looking ahead, the directors said: “Although we still expect healthy competition in 2025/26 we are optimistic about the sector and our opportunities to take market share.

“We have a very clear, five-year strategic plan for the group, which will guide and drive business growth.”