Financials
"In spite of the recession, we have continued to deliver outstanding work for our clients." Simon Murray, Chairman
In the challenging conditions of the UK construction market, Osborne has delivered a robust performance. As anticipated, turnover reduced by 7% during the year end 31 March 2010. Pre-tax profits increased by 15% to £2.8 million and operating profit increased by 154%.
We envisage that the next year will be even more challenging. However, with no net debt, a strong order book and a substantial portfolio of repeat business, we are in good shape to face the future.
You can view our financial highlights in the summary below, or click here to download a full copy of our annual report and accounts.
| Continuing Operations | |||||
| 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|
| £'000 | £'000 | £'000 | £'000 | £'000 | |
| Profit and Loss Account | |||||
| Turnover | 311,033 | 333,707 | 303,685 | 248,298 | 229,409 |
| Profit before tax | 2,821 | 2,454 | (1,763) | 4,588 | 3,529 |
| Earnings per share(pence) | 179.9 | 163.1 | (116.6) | 288.6 | 227.3 |
| Dividends paid per share(pence)1 | 121.5 | 58 | 100 | 100 | 80 |
| Balance sheet | |||||
| Fixed assets | 7,534 | 8,620 | 8,756 | 7,895 | 8,342 |
| Working capital2 | (14,406) | (14,316) | (19,182) | (8,858) | (13,745) |
| Provisions for liabilities and charges | (3,817) | (2,500) | (2,540) | (2,092) | (2,015) |
| Pension deficit | (2,460) | (2,241) | 477 | (22) | (1,189) |
| (13,149) | (10,437) | (12,489) | (3,077) | (8,607) | |
| Cash less borrowings | 30,627 | 27,244 | 33,943 | 26,884 | 29,636 |
| Assets employed | 17,478 | 16,807 | 21,454 | 23,807 | 21,029 |
| Shareholders' funds | 17,478 | 16,807 | 21,454 | 23,807 | 21,029 |
1 Represents amounts authorised by shareholders during the year
2 Excluding cash but including long term liabilities