Liverpool-based builders merchant chain Joseph Parr boosted profits on lower turnover after slashing employee costs.
Latest figures for the nine-branch business showed turnover for the year down 20% to £35.6m, but pre-tax profits went up from just under £1m to £1.53m. Operating profits were ahead 79% at £1.44m.
The independent company is based in Bootle with four north-west branches, two in the north-east, two in Scotland and one in Stoke.
Employee numbers were cut by 31 to 186, which reduced the company’s employment costs by £1.6m to £5.4m.
“The decrease in turnover in the year was a reflection of the general economic environment, however, the group managed to maintain its gross margin in the difficult trading environment,” a company statement said.
“The external commercial environment is expected to remain difficult in 2010 as a result of the continued downturn in the economy and the current state of the housing market. Cost reductions have taken place, which will allow the group to be in a stronger position.”
