Annual Report 2017/18

Clugston Distribution is a wholly owned subsidiary of Clugston Group whose accounts are summarised below.

The Group revenues reached record levels during the 2017/18 year and despite a small loss the company maintains a strong balance sheet with good cash reserves and a substantial order book.

During the year the Board implemented a restructuring programme to maintain this growth sustainably. This will build our enterprise value by leveraging on the individual strength of each division which will collectively enhance our offering. Shared services and central support should enable reduced operating costs whilst ensuring our delivery teams,  in each part of our business, continue to satisfy the needs of our customers.

Total turnover

£175.3m

Pre-tax profit

(£0.469m)

Net assets

£14.3m

Cash balance

£30m

Annual Report
Chief Executive Quote

R J Vickers

Chief Executive

“Following the restructuring we are better placed to deal with some of the issues we experienced this year in which we saw our turnover increase by 49%. Our teams are focused on delivering better outcomes in what will be an exciting, productive and busy year ahead.”

Principal Activity

The principal activity of the Group during the year under review was the provision of services across a range of sectors, delivering civil engineering, building, facilities management, logistic services, property development and estates management. These services were delivered through three core divisions of Property, Logistics and Construction.

Results

This year’s results reflect the challenge of dealing with the Groups highest every turnover and the introduction of a new structure to set the Group up for further sustainable growth.

Annual Report

"2017/18 was the busiest year in our history during which Group revenues rose 49% to £175.3m."

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