Skip navigation

Gloucestershire Business News

Engineering firm builds bridge to growth and profits

A firm known world-wide for building bridges has engineered a road back to profit and a £26.8 million turnover.

Mabey Bridge, which has a major manufacturing base in Lydney in the Forest of Dean, saw its turnover rise from £23,717,029 in 2018 and profits rise to £958,472 - as compared to 2018' s £3,967,102 loss.

The loss after tax for the year actually amounted to £7,494,341, compared to 2018's loss of £3,682,525.

All of which means it had a gross profit margin of 22 per cent (2018: 21 per cent) and operating profit margin of four per cent (2018 it was minus 17 per cent).

As with all firms whose markets are not restricted to these shores, it was unable to pass by these accounts without mentioning a certain subject.

"Brexit is one of the most significant economic events for the UK. and at the date of this report its affects are subject to unprecedented levels of uncertainty of outcomes, with the full range of possible effects unknown," said the report, for the year ended September 2019.

Wages and salaries were down, from £6.47 million to £3.3 million, with staff numbers down from 96 to 46 in the production side of its business and from 75 to 36 in the administration and support side.

Renumeration for directors rose from £490,496 in 2018 to 919,821 in 2019.

On May 10 2019 Mabey sold assets for £7,958,778, an amount currently in escrow with an expected settlement in May 2022 at the earliest.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, July 3 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, July 3

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Bella Italia and Cafe Rouge closures cost 1,900 jobs Image

Bella Italia and Cafe Rouge closures cost 1,900 jobs

Cheltenham's Promenade and Gloucester Quays are both on a list of closures as the owner of restaurant chains Cafe Rouge and Bella Italia has gone into administration.

Medical group appoints new chief executive and chief commercial officer Image

Medical group appoints new chief executive and chief commercial officer

Bourton-on-the-Water based Summit Medical Group has strengthened of their senior leadership team with two key appointments.

Peel says Intu collapse will not hurt finances Image

Peel says Intu collapse will not hurt finances

The Peel Group - operators of Gloucester Quays - said the collapse of Intu Properties into administration will have no bearing on its financial health.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.