PROFITS are continuing to plunge at scaffolding contractor Trad.
In the year to November 2004 pre-tax profits at the Bromley-based outfit collapsed to £153,742 from £543,384 in 2003. Trad said: 'The progress of the company during the year accorded with expectations and the position at the end of the year is regarded as satisfactory.' The latest profits slump came as turnover slipped £711,492 to £16.1 million. Operating profits did rise from just £94,255 in 2003 to £345,238 but Trad did not benefit from any income from fixed asset investments, which totalled £677,385 in the previous year.
Trad employs 280 people.
Recent work includes jobs at the Royal Horseguards' Hotel and the Whitehall Hotel, both in London, worth £400,000 and £1 million respectively.