Family business swings to a loss despite increasing turnover to £269m

Staff at R G Carter, which is based in Norwich. Picture: Paul Nixon

Staff at R G Carter, which is based in Norwich. Picture: Paul Nixon - Credit: Archant

Despite increasing turnover by more than £25m, a family-owned Norwich firm has swung to a loss.

R G Carter, which is based in Drayton High Road, saw pre-tax losses of £6.4m for the year to December 31, 2018.

This is compared to profits of £2.2m in 2017.

Turnover soared from £243.3m in 2017 to £269.6m in 2018, with bosses saying that the results did not "reflect the skills, endeavours of the staff or the quality of service".

MORE: 'I swore I'd never run another pub': Landlady with a magic touch reveals refurbished freehouse Chairman Robert Carter wrote in the accounts: "During 2018 there have been a number of widely reported financial challenges within the construction sector.

"For the construction division, 2018 was a challenging year and a year in which disappointingly the financial reward we have received on the successful delivery of a long-term project has not matched the effort and skills expended or the quality of the delivery we have achieved for our client."

You may also want to watch:

The firm has a number of offices across Norfolk, including Attleborough, King's Lynn and Thetford.

Despite the overall losses, the group said its property division had a "successful year".

Most Read

A spokesman said: "Looking forward to 2019, we have a large number of project for trusted clients with whom we have strong relationships and despite the current political and economic uncertainty there is a healthy pipeline of opportunities in our region."

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter
Comments powered by Disqus