Cost Management Arm of Gleeds Improves Turnover and Profit
Gleeds Cost Management has reported a significant increase in turnover and profit, according to its latest accounts filed at Companies House.
Key financial highlights include a 26% rise in revenue to £108m and a 33% increase in pre-tax profit to £3.4m. Operating profit also saw a 41% increase to £3.8m.
The directors are pleased with the increase in revenue which shows a strong performance due to an increased focus on framework contracts. The increase in operating profit is a result of client and project mix.
Gleeds Cost Management is part of the wider Gleeds LLP business, which employs around 3,000 staff across 78 offices in 26 countries. Recently, the firm secured a refinancing deal with HSBC worth approximately £50m.
Author's summary: Gleeds Cost Management sees turnover and profit growth.
- Revenue: £108m (up 26%)
- Pre-tax profit: £3.4m (up 33%)
- Operating profit: £3.8m (up 41%)
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