The 拢3.9m pre-tax loss reported in 2014 became a profit of 拢177,000 in 2015.
Turnover was up 10% to 拢13.0m (2014: 拢11.8m).
The group's operating profit was increased from 拢74,385 in 2014 to 拢203,895 in 2015. Connaught Access Flooring (CAF) is the main driver of revenue and profits, making a pre-tax profit of 拢467,428 (2014: 拢240,885).
The other subsidiary, MBG Construction, was and it quit lump sum subcontracting. 鈥淚t is now trading profitably and has excellent prospects,鈥� chairman Peter Jay said, 鈥渁nd it was only the effect of two legacy contracts that were taken on in 2013 and 2014 under the previous strategy that prevented it from recording a profit in 2015.鈥� Excluding these two legacy contracts MBG would have produced an operating profit of 拢400,285 in 2015, he said.
Mr Jay said: 鈥淭he outlook for CAF continues to be strong into 2016/17 and based on the volume of high quality tenders for large commercial flooring contracts combined with expected developments into the supply and installation of new products associated with CAF's core activities, the Board believes that the prospects for CAF are increasingly bright for a number of years.
鈥淒ue to the significant progress made by the group companies in 2015 and to date the board is satisfied that both will perform strongly during the remainder of 2016 and in 2017. CAF is already involved in negotiations of large scale flooring contracts and MBG is trading profitably since the restructuring of its business.鈥�
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