Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Sweett Group moves back into profit

Sweett Group has announced it has returned to profit with its latest results, which the company said was “a significant improvement on the prior year”.

Pre-tax profit for the group, before adjustments, was £1.8m for the year to 31 March 2013, against a pre-tax loss of £1m for the previous year. Operating profit was £2.3m against a loss of £0.2m in 2012, at a margin of 2.9 per cent.

Revenue for the group climbed by 10.7 per cent to £80.6m, with Europe making up just over half the total, at £43.6m.

The group said Asia Pacific remained its fastest growing region, with revenue in China and South-east Asia increasing by 20 per cent.

Sweett chief executive Dean Webster said: “2013 was a year of significantly improved financial performance, financial position and growth across our businesses in Europe, the Middle East and Asia Pacific.

“We have a lean and diverse business that is well placed to benefit from some of the green shoots we are seeing in the construction industry in some of our markets.

“We continue to win significant new commissions across our network of offices and are gaining market share from our competitors.

“Over recent years we have repositioned the business and have built a solid global platform.

“The next stage of our development will be to build on the platform we have created.”

Sweet said that its order book currently stood at £100m, an increase of 11.1 per cent on last year.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.