Octavius Infrastructure, formerly Osborne Infrastructure turned over 拢191.2m in the year to 31st March 2022 (2021: 拢204m). Pre-tax profit was up 26% to 拢5.9m (2021: 拢4.7m).
Cash balance at year end was 拢8.3m (2021: 拢5.8m).
The 6% decrease in turnover was attributed mostly to 鈥渢he completion of some large contracts during the prior financial year and the focus on more profitable business鈥�.
Osborne Infrastructure Ltd was sold in September 2021 to Topoham Bidco, a holoding company capitalised by funds managed by Sullivan Street Partners. It was rebranded in March 2022 as Octavius Infrastructure.
The takeover has resulted in 鈥渁 renewed strategic direction and five-year plan with strong emphasis on growth鈥�, said chief executive John Dowsett.
The specifics of the plan were not revealed but it appears to be all about growth. He writes in the annual report: 鈥淲e will grow our business by widening the geographic areas addressed as well as increasing our share of the large transport construction market in the areas already served.鈥�
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