Chairman and founder Charlie Spencer said: “The directors viewed this year as being one of consolidation following on from the previous year, where the result was, unfortunately, skewed materially by a substantial loss on one contract.
“The company enters the new financial year to 31 March 2020 with secured work in hand of £77m and a pipeline of £213m, from which to draw its opportunities.”
Average headcount was 254 staff, falling from 314 in the previous year. Net debt reduced from £4.9m to £3.5m.
In January, the firm revealed that it had been “seriously impacted” by a materials handling project which suffered time and cost overruns which cost the business £14.5m in its 2018 results. This was a £65m scheme to design and build facilities for the handling, storage and rail-loading of wood pellets at the Port of Tyne.