Casey maintains margins in tough market

PRE-tax profits at Rochdale-based Casey Group fell by a third in 2011 to £597,446 (2010: £879,367) as sales dropped by 8% to £44.4m (£48.4m).

The family-owned company, which has interests in contracting, housebuilding and civil engineering, said that it was continuing “to seek ways to counteract the pressure on margins and turnover”.

Its general construction business faced the toughest conditions, with contracting turnover dropping by 35%, which the firm said reflected the difficulties of securing work “in a highly-competitive, price-driven market”.

Its land reclamation arm, however, saw turnover grow by 19% to £20.8m and is now the company’s biggest division.

Rochdale-based Casey Group also operates a number of landfil sites. Turnover at this division grew slightly to £4.7m, but Casey’s directors said they expected an increase in turnover and profits from the division following its purchase of Astley Sand & Aggregates and Astley Plant hire for an initial £3.25m in May 2011.

By the year end, the company’s net assets had grown to £14.1m (£13.8m).
The average number of staff working for the firm during the year had also fallen to 352, from 401 in the prior year.