In the year to 31st December 2021 Eric Wright Group made a profit before tax of 拢15.1m, up from 拢9.5m in 2020. Gross profit increased from 拢17.3m to 拢20.5m.
Turnover across the group decreased to 拢163.9m 鈥� down from 拢204.6m in 2020 聽and 拢223.2m in 2019.
Profit growth was attributed to careful selection of projects, focused risk management within the contracting businesses and the continued growth of its residential business.
Eric Wright鈥檚 investment property portfolio continued to generate stable net income returns and has grown in value year on year to 拢84.1m, up from 拢75.9m in 2020, including acquisitions in the year of 拢3.2m.
Group finance director Gill Chadwick said: 鈥淭he group benefits from the commercial strength provided by the diversity of its principal activities. Whilst global economic factors continue to create obstacles, the stability afforded by this breadth of activity, together with the strong performance of our investment property portfolio, provides the group with resilience and confidence, and ensures we are well positioned to capitalise on future opportunities. The outlook for 2022 is extremely positive with the business well placed to generate sustainable, profitable growth.鈥�
Group managing director Jeremy Hartley added: 鈥淭he group remains focused on mitigating issues around pricing strategies and meeting the current unprecedented inflationary pressures as successfully as possible. We aim to ensure that we do not take on any undue risk and continue to carefully consider and evaluate the deliverability of every new project.
鈥淭he resilience of our business and talent and commitment of our people has again provided us with stability during another challenging and uncertain year and we are very proud to be able to report positive results once again.鈥�
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