Merchants to the construction industry builds profits
By Andrew Merrell | 16th September 2019
A well-known family business supplying the county's construction sector has revealed a rise in profits during its last financial year.
Cheltenham headquartered George Bence & Sons Ltd saw a fall in turnover from £17.1m to £16.86m.
But the business, which can trace its roots back to 1854, saw profit for the financial year ending December 31 2018 rise from £404,484 to £419,082.
Rental income was also up from £34,273 to £174,234, as were staff numbers - from 103 to 109, with administration and support is up from 65 to 76 and distribution down from 38 to 33.
"Directors consider that the business has performed adequately during the year given the market conditions," said Paul Bence, managing director of George Bence & Sons Ltd.
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