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Mountfield Group

  • BY: Andrew Hore |
  • POSTED: 17/06/2014 |

Construction services provider Mountfield Group more than trebled its profit in 2013 as demand for its services improves. 

Mountfield focused on higher margin contracts. Revenues dipped from 13.6m to 12.3m but a larger reduction in cost of sales meant that pre-tax profit jumped from 219,000 to 765,000. Net debt was 4.15m at the end of 2013.

Mountfield is diversifying its customer base and it is less reliant on investment in datacentres. New business enquiries are the highest since 2008.

At 2.95p a share, Mountfield is valued at 7.57m.

House broker WH Ireland forecasts a profit of 1m in 2014, which means that the shares are trading on ten times prospective 2014 earnings. It is estimated that more than 50% of expected revenues for 2014 are already contracted.

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