THE directors of painting and decorating group Roy Hankinson (Holdings) says they had a positive 2010 despite tough trading conditions.
The Birkenhead company stayed in the black despite a fall in turnover from £11.2m in 2009 to £10.3m last year.
Accounts recently filed at Companies House show Hankinson reported a pre-tax profit of £89,000, down from £358,000 in 2009.
Hankinson also reported £96,349 of exceptional costs related to a “bad debts write off provided against Connaught plc”. Social housing maintenance firm Connaught collapsed last year.
In the group’s accounts, its directors said they were “pleased to report a positive result achieved within difficult economic conditions and incorporating a significant bad debt following the demise of Connaught plc.
“The diversity of the company’s services and operational sectors proved to be critical in overcoming extreme market pressures particularly in the commercial sector.
“We have worked with employees at all levels to help deliver an efficient and lean service whilst still meeting the needs and expectations of our clients. This will continue in 2011.”
The directors said they were not expecting market conditions to improve this year but said they had “put the building blocks in place to deliver improved returns”.
This February, Hankinson announced it was buying the UK arm of Programmed Maintenance Services (PMS) for an undisclosed sum. That company has a forward order book of more than £11m.
The directors said: “Our vision remains to be the leading painting contractor in the UK.”
ALISTAIR HOUGHTON
