Turnover at the business behind a Leicester interior fit-out specialist passed the £50m mark and pre-tax profits more than doubled during its latest financial year.
NJDR Group, which is the parent company of FIS member EE Smith Contracts, has reported a turnover of £50.4m for the 12 months to 31 March 2020, up from £32.9m.
Its pre-tax profits also increased from £508,000 to £1.15m over the same period.
EE Smith Contracts’ turnover was the same as its parent company’s while its pre-tax profits increased from £1.9m to £2.4m.
In January 2020 EE Smith Contracts announced that it had won a multimillion-pound contract for a major hotel project, the largest deal in its 123-year history.
A statement signed off by the NJDR Group board said: “Although the directors are pleased to report improved performance, the group’s results have been constrained by contracts which have been subject to delay due to third parties.
“Although commercial negotiation will ensue to recover lost time, such arrangements are not firm and as such, are not considered in these financial results.
“In addition, the group applied a prudent assessment of the disruption which has been caused by the Covid-19 pandemic to our expected contract returns.
“The group has remained fully compliant with legislative guidelines, although this has weakened our efficiency and therefore return.”