Last minute delays cost hydraulics firm £2.9m
A DECLINE in turnover at K T Hydraulics has been blamed on a large project that was at the very last minute postponed by the customer.
Turnover decreased to £6.26m for the year to 30 September 2014, from £9.17m the year before.
Pretax profits dipped from £1.38m to £709,903 in the same period.
The Elland-based firmis hopeful for a better 2015, saying that prospects for the year are “very encouraging”
The firm, which employs 21 people, is also looking to increase their footprint in the Middle East after opening an office in Bahrain.
In a statement the firm said: “The directors are satisfied with the company’s results for the year.
“The gross profit margin has increased from 29% to 34%.
“This is a result of the directors making a conscious effort to ensure all projects are completed on budget and within the required timeframe, as last year four projects were completed at reduced margins”
