Operating profit was up 20% to 拢2.3m (2011: 拢1.9m) while revenue was down 3% to 拢97.9m down 3.0% (2011: 拢101.0m).
Pre-tax profit before was up from 拢500,000 in 2011 to 拢800,000 in 2012.
Net cash stood at 拢3.6m (2011: 拢6.7m) while the order book 15 weeks into 2013 is up at 拢61.9m (2011: 拢56.4m).
CEO Tony Lenehan said: 鈥�2012 was an encouraging year in terms of both profit and earnings per share. The group successfully delivered a 20% increase in operating profit and a fivefold rise in EPS. Importantly, these results were accompanied by an increase in gross margin to 8.7%, a positive endorsement of the group's strategy for profitable growth.鈥�
He added: 鈥淎 selective approach to new business opportunities has helped establish successful relationships and reference projects in our new strategic sectors. Consolidation of our position as a top performer on frameworks in the banking sector supports sustainable revenue streams, where we have provisionally been allocated 拢50m of work for 2013. Our organisational structure, operating platform and management systems have been developed to better support enhanced business performance and create a more efficient overhead base. Whilst revenue is slightly below the prior year, we successfully secured and delivered 拢35m of project work for new customers during 2012 and built a carry through project workload of another 拢15m for 2013.鈥�
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