UK construction firm Clancy Group has announced a small profit for the last financial year as its revenue rose above £300m.
The company’s accounts for the year ending 31 March show a profit of £600,000, which followed a loss of £3.6m in the previous financial year.
Turnover for 2018/19 was £309m, up 15% on £268m a year earlier.
The firm said its net cash inflow of £17.6m ‘reflects our strong operational focus on cash’, adding that it is confident it can achieve further material improvement in 2019/20.
Chairman Kevin Clancy wrote: ‘The business has started to see the turnaround in performance that we predicted last year.
‘Our strategy is to secure margin improvement, rather than revenue growth.’
The firm was deeply saddened to announce in September the death of his brother and former co-chairman Dermot Clancy.
