{"id":847935,"date":"2025-05-13T09:11:43","date_gmt":"2025-05-13T14:11:43","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/13\/profit-falls-at-roofing-firm-briggsamasco\/"},"modified":"2025-05-13T09:11:43","modified_gmt":"2025-05-13T14:11:43","slug":"profit-falls-at-roofing-firm-briggsamasco","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/13\/profit-falls-at-roofing-firm-briggsamasco\/","title":{"rendered":"Profit falls at roofing firm BriggsAmasco"},"content":{"rendered":"
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\"Briggs-Amasco_Roofing_Specialists-201_660.jpg\"<\/p>\n

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Profit has dropped by over two fifths at roofing specialist BriggsAmasco after a number of project delays.<\/p>\n

The latest financial results for the Sandwell-based firm show that pre-tax profit before exceptional items fell last year from \u00a35.3m to \u00a33m on turnover that declined from \u00a344m to \u00a337m, a drop of almost 16 per cent.<\/p>\n

However, profit was impacted by an exceptional cost relating to changes to one of the company\u2019s pension schemes. Taking that figure into consideration shows that profit dropped less steeply \u2013 from \u00a35.3m to \u00a33.1m.<\/p>\n

The firm, which was tenth in the CN Specialists Index for envelope contractors<\/a> last year, attributed the fall in turnover partially to the overrunning of some of its jobs.<\/p>\n

\u201cThe reduction in turnover for the year\u2026 is largely on account of completion of several exceptional projects and project delays in the South East,\u201d it said.<\/p>\n

But it said that continuing success in winning contracts resulted in work in hand at the end of last year of just over \u00a319m, down only 8 per cent on 2023, which it said boded well for this year\u2019s prospects.<\/p>\n

\u201cThe diverse project portfolio and client base provide excellent visibility for continued strong performance in 2025,\u201d it said.<\/p>\n

The balance sheet showed net assets slightly up from \u00a321.1m to \u00a321.3m, while the firm\u2019s cash balance also rose from \u00a37.9m to \u00a38.8m.<\/p>\n

Last year saw the completion of the first phase of a buyout of the firm\u2019s pension scheme, whose liabilities will now be funded by an insurance policy, meaning the firm would no longer need to make scheme
contributions, it added.<\/p>\n

While it was still exposed to raw material price fluctuations, BriggsAmasco said it minimised those risks at contract award through forward purchasing and only entering into contracts that allowed for price adjustments after an initial fixed-price period, as well as securing firm cost agreements with suppliers.<\/p>\n

\u201cGiven our current scale, further hedging is deemed uneconomical, though this policy will be reviewed if our operations change significantly,\u201d it said.<\/p>\n

The firm, which has been in operation since 1865, has been involved in high-profile projects including waterproofing work on the redeveloped Battersea Power Station and the new Stratford campus of the London School of Fashion.<\/p>\n<\/div>\n

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At CN Intelligence you can view and filter seven years\u2019 worth of detailed financial information on the top UK construction firms via our interactive dashboards. Access in-depth written analysis of the numbers along with targeted data and analysis on specialist contractors.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Kerry Lorimer<\/p>\n","protected":false},"excerpt":{"rendered":"

Profit has dropped by over two fifths at roofing specialist BriggsAmasco after a number of project delays. The latest financial results for the Sandwell-based firm show that pre-tax profit before exceptional items fell last year from \u00a35.3m to \u00a33m on turnover that declined from \u00a344m to \u00a337m, a drop of almost 16 per cent. However<\/p>\n","protected":false},"author":1,"featured_media":847936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2843,23002],"tags":[],"class_list":{"0":"post-847935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-falls","8":"category-profit"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/847935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=847935"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/847935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/847936"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=847935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=847935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=847935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}