Baldwins lost 拢1.27m before tax in the year to 31st March 2019 on turnover down less than 1% to 拢23.9m. The previous year it had made a pre-tax profit of 拢851,000 on 拢24.0m turnover.
Operating profit plummeted from 拢2.4m last time to just 拢65,000.
Richard Baldwin said that the results were in line with expectations, given the economic uncertainty. The decline it workload prompted the disposal of a specialist 750-tonne lattice boom crane 鈥� a Liebherr LG 1750 鈥� that had only been bought in 2015, resulting in a book loss of more than 拢780,000.
鈥淎t the beginning of 2019 and continuing during the ensuing year, the company has carried out a full strategic review of its business,鈥� Mt Baldwin said. 鈥淭his has resulted in significant cost savings and streamlining the fleet of cranes.鈥�
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