By Ian McConnell
Business Editor
GLASGOW-based construction group CCG (Holdings) has declared Brexit has brought “unquantifiable uncertainties” which will probably affect the availability and cost of materials, while striking an upbeat tone on current trading.
The group said its suspension of trading activities between late March and June last year as a result of government measures to control the Covid-19 pandemic would result in a fall in profit in its current financial year ending on March 31.
However, it added: “[Given] our trading since our return and our forecast to 31 March 2021 the group expects to achieve an acceptable level of turnover and profit in the year.
“This level of trading and the healthy bank balance of the company and group will ensure that the effects of this pandemic will not have serious consequences to the continuing activities of the company.”
The construction group also flagged the rewards of its commitment to the affordable housing sector, while declaring training and investment in young people are at the core of its “ethos”.
Accounts filed with Companies House show CCG (Holdings), which employs more than 700 people with apprentices comprising about 10 per cent of its workforce, achieved a jump in pre-tax profits to £19.9 million in the year to March 31, 2020, from £12.64m in the prior 12 months.
This rise in profits came on the back of an increase in turnover from £168.4m to £187.7m.
The directors of CCG (Holdings) say in their report on the accounts for the year to March 2020: “The group has produced very encouraging results in the year. The current business platform continues to be very strong. The commitment made by the company to the affordable housing sector has borne rewards with increases in net profit from the previous year.”
Commenting on the UK’s departure from the European Union, the directors say: “Brexit brings unquantifiable uncertainties which will probably affect our material availability and costs. The challenge will be met head on by the group and its supply chain partners.”
The construction group’s principal shareholders are chairman and chief executive Alastair Wylie and financial director Bernie Rooney. Mr Wylie’s son, David, is managing director of the business.
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