Profits up at Joseph Parr Group
Published: 25 August, 2010
LIVERPOOL: Builders' merchant Joseph Parr Group recovered from a 20% drop in turnover during the recession and reported increased profits in 2009.
It's latest filed accounts show that cost-cutting action during the year to enabled profits to increase to £1.53m in 2009 from £972,090 in 2008 as a result of the measures.
Turnover increased from £35.6m in 2008 to £45.2m in 2009.
Employee costs reduced by £1.6m to £5.4m by cutting 31 staff and reducing numbers to 186. The company owned by Robert Lomas has branches in Stoke on Trent, two in Scotland, two in the North East and four in the North West, including one in Bootle where its headquarters are.
The directors' report noted that the decrease in turnover in the year was a reflection of the general economic environment but "the group managed to maintain its gross margin in the difficult trading environment."
"The external commercial environment is expected to remain difficult in 2010 as a result of the continued downturn in the economy and the current state of the housing market," the directors said.