Wednesday, June 24, 2009

F M Conway doubles pre-tax profit to more than £7m

F M Conway has enjoyed a surge in pre-tax profit to £7.1m which is more than double the previous year’s figure of £3.1m.

Conway’s latest financial results cover the 12 months to 31 March 2009.

The group’s description of itself is that it is “a multi-disciplined highway maintenance business offering a range of services including the recycling of construction and wet waste materials”.

Turnover of £110m was well up on the previous year’s figure of £90m.

The strong growth in profit was put down to early action taken to reduce costs and “operational benefits gained from the drainage treatment plant and the aggregate crushing facilities”.

The company is shortly to invest ВЈ4m in an asphalt plant.

Net cash inflow from operating activities ran to ВЈ8m (comparable figure in previous year: ВЈ7m)


F M Conway doubles pre-tax profit to more than £7m


The highest-earning director picked up ВЈ310,000 which was ahead of the ВЈ250,000 figure in 2007.

Conway has 640 employees and of this tally 450 are involved in labour. The group’s total bill for wages and salaries ran to £22m.

The company’s ultimate controlling party is M J Conway.