Pre-tax profits at the Ipswich-based firm slumped by just over 7 per cent to £2.6 million in the year to March 2007 while turnover dropped 11 per cent to end up at £81.7 million.
Chairman John Breheny said: “It has never been our objective to increase turnover for its own sake.
“We expect turnover in 2008 to be at a similar level to this year. However this is not a fixed target and we will continue to grasp opportunities as they become available whilst maintaining our policy to bid for work at a level which we believe to be profitable.”
The number of employees at the firm dipped by 10 to 464 although its overall wage bill went up by more than £500,000 to £14.8 million. The average wage was 6 per cent more than last time, standing at £31,800.
And despite the falling headline figures, the take home pay of the highest paid director shot up by 45 per cent to just under £350,000.