Business
Preliminary Unaudited Results
Preliminary Unaudited Results.
About this update from Hellenic Dynamics Plc
[{"type":"text","content":"\n \nRNS Number : 4776H Mountfield Group plc 20 June 2013 \n \n\n \n20 June 2013\n \nMountfield Group Plc\n \n(\"Mountfield\" or the \"Company\")\n \nPreliminary Unaudited Results\n \nMountfield, the AIM listed construction company specialising in building and refurbishing data centres, is pleased to announce its preliminary unaudited results for the year ended 31 December 2012.\n \n \nContacts: \n \n\n\n\n\nMountfield Group Plc \nGraham Read, Chief Executive Officer\n \n\n\n01268 561 516\n\n\n\n\nWH Ireland Limited (Nominated adviser) \nChris Fielding, Head of Corporate Finance\n \n\n\n020 7220 1650\n\n\n\n\n \n \nCHAIRMAN AND CHIEF EXECUTIVE'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2012.\n \nThe Company is pleased to present the Group's unaudited financial statements for the year ended 31 December 2012.\n \n· Group revenues increased by 22.5% to £13.6m.\n· Trading loss of £836,330 in 2011 converted to a trading profit (pre-tax) of £218,505 in 2012.\n· Increase in Gross margin from 7% in 2011 to 13%.\n· Revival in Group's levels of activity noted in 2011 continued into 2012.\n \nWe are very pleased to be able to report that in 2012 the Group moved back into profit after an extremely difficult three years during which its turnover dropped substantially and it declared trading losses.\n \nA turnaround of £1,050,000 was achieved during 2012 and a loss on trading operations of £836,330 in 2011 became a trading profit of £218,505 in 2012 on turnover that increased by 22.5%. This was accompanied by an increase in gross margin from 7% in 2012 to 13% in 2013.\n \nNotwithstanding the increase in turnover and profitability, the Group's cash flow did not ease to the extent that the Directors had anticipated during 2012. However, they are confident that as a result of the increase in the rate at which new contracts are being won this will have improved significantly by the third quarter of 2013.\n \nResults &nb...