Results published on May 25 for the Newcastle-based builders merchant – for the year ending December 2011 – show a turnaround from a £64,000 loss in 2010 and a £679,875 loss in 2009.
The improvement, say directors, is a result of re-organisation and expansion which has seen the relocation of Dove’s Newcastle city centre headquarters to Newburn Haugh Industrial Estate and new branch openings, such as the purchase of the Boldon site.
"Our 2012 budget forecasts a further growth in sales and we expect the new look business to improve profitability throughout the year as we continue to take market share from our competitors through our new branches," said the Dove annual report.
Directors said the company’s balance sheet remains strong, including shareholder funds of £9.3m, and its bank was supportive.
