John F Hunt was one of 10 demolition contractors provisionally found guilty of collusion and bid rigging by the Competition & Markets Authority (CMA).
John F Hunt Group wrote down a 拢5.6m exceptional item in its accounts for the year to 31st March 2021 to cover the cost of the CMA probe and an expected fine. That resulted in it posting a 拢2.2m loss before tax that year on 拢81m turnover.
However, for the following year, to 31st March 2022, unaudited accounts show that it bounced back to 拢5.6m pre-tax profit on turnover up 33% to 拢108m.
With sister company John F Hunt Power Group making a 拢5m pre-tax profit (up from 拢4m) on 拢31m turnover (up from 拢22.8m),聽 cash at bank stood at 拢23m at year end.
The net asset value of the group at end of March 2022 is 拢47m, 拢30m within John F Hunt Group Ltd and 拢17m for John F Hunt Power Ltd.
For the current year, to March 2023, the combined revenues of John F Hunt Group Ltd and John F Hunt Power Ltd is anticipated to rise from 拢140m to 拢190m, with a profit of 拢13.2m.
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