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UpgradeWe present our trading results (audited) for the year ending October 2024. These results are a substantial improvement on the previous two years and confirm our positive trajectory which is expected to continue into 2025.
We have a healthy balance sheet, a strong pipeline of opportunities and we are confident and optimistic about the future.
Our sales this year dropped by 15% due to tighter controls on project selection. The current pipeline for FY25 indicates growth of around 7.5% with a return to sales of around £200m.
Margins have continued to improve through FY24 and we expect margins in FY25 to return to historic levels.
We are pleased to report a return to profitability as previously forecasted. Our upward trajectory is expected to continue into FY25.
The Group’s balance sheet remains strong and reinforces the Group’s ability to remain resilient in difficult times.
We successfully maintained our order book under relatively erratic macroeconomic conditions.