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Saturday19 August 2017

UK work hikes Farrells' profits

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Revenue and staff numbers head north as well

Farrells said its work on a number of major transport schemes in the UK helped it turn in an improved set of results last year.

Documents filed at Companies House by Terry Farrell Holdings show that turnover was up to £8.9 million in the year to March 2015 from £8 million last time while pre-tax profits were up 41% to £3.1 million.

Farrells is working on schemes at Gatwick Airport (pictured) as well as HS2 and other work for Network Rail and Transport for London.

It said all its revenue came from the UK but in a statement signed by director Terry Farrell, the firm added: “[Our] long term commitment and investment in China continues to show returns, where expertise in tall building, mixed-use and cultural projects is much sought after.”

The number of staff edged up 9% to 84, although its wage bill went down by just over £100,000 to £2.9 million.

The salary of the highest paid director slipped from £129,000 to £22,600 but Farrell himself was handed a dividend of £287,000, up from £160,000.

 

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Readers' comments (3)

  • £106,400 pay cut.....ouch

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  • craig wilson

    @chris

    Don't be fooled by the "creative" fudging of the figures -look at the dividends be earned which are up by £127,000 which is an effective £20,600 pay rise.... not so ouch!

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  • Beavis

    less tax

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