Taziker Sees Trading Revenue Increase by More Than 30%
Published 9th August 2022
Taziker Industrial Ltd, the multi-disciplined engineering specialist, has released its financial performance for the year ending 31st March 2022.
Taziker has posted record revenues for the financial year to 31st March 2022. Trading in the year was up more than 30% on the prior year, to in excess of £73m. The company announces the business has continued to successfully develop, expand, and diversify into new markets, as it builds on its strategic objective to extend its self-delivery, multi- disciplinary engineering capability.
The increased volumes generated a gross profit increase, up by £3.5m to £15.5m, with gross profit percentage also improving as the business enhanced its operational performance and took advantage of the increased volumes.
Operating profit in the year improved by more than £2m to £3.8m and more accurately signifies the underlying improvement in trading performance, as the business continues its journey of resumed growth, generating a pre-tax profit of more than £5m.
The business is also pleased to announce that it has started the new financial year with a record secured order book in excess of £82m. This is an increase of more than 40% on the prior year with the tender pipeline also continuing to reflect a maintained growth opportunity.
Steve Corcoran, Chief Executive of Taziker said, “We are extremely pleased to announce these positive results, which were attained during a period of turmoil and disruption caused by the Covid pandemic.
“The performance reflects the skill, hard work and determination of our people and is a testament to their professionalism. With our forward order book and future pipeline also at record levels, we maintain confidence that we will continue to see Taziker deliver sustainable revenue and earnings growth for the year ahead.”