Wednesday, February 18, 2009

Sol Construction's profit margin down from 6.0% to 1.8%

Sol Construction’s margin has dropped from 6.0% to 1.8% as a result of a two-thirds fall in pre-tax profit to £1.3m.

Sol’s latest figures cover the 12-month period to 31 March 2008. The profit during that time was well down on the previous figure of £3.9m.

Turnover was ВЈ72m, representing a rise on the figure of ВЈ66m in the previous year.

Rok bought the company in May 2007 (i.e. early in the latest financial period) for ВЈ19m. That figure had the potential to climb to ВЈ21m depending on how Sol performed in the year in the year to the end of March 2008.

When Rok bought Sol it said it was anticipating Sol’s annual turnover would break the £100m barrier in 2008.

Sol’s balance sheet shows equity shareholders’ funds at the end of the period to stand at a value of just £300,000 after starting at a much higher figure of £9.9m.


Sol Constructions profit margin down from 6.0% to 1.8%


The latest value of work-in-progress was put at ВЈ1.7m after standing at ВЈ7.4m at the start of the financial year.

There was a total of over ВЈ10m paid to shareholders during the period.

Sol had an average of 456 employees and the bill for wages and salaries ran to ВЈ11.7m.

The time to pay suppliers got markedly slower, ending up at a figure of 100 days – in the previous year the figure ran to 65 days.

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