Cash held at year-end increased from £5.8 million to £8.3 million, mainly due to improved profit for the year.
Private equity owned Octavious Infrastructure saw a massive jump in p[roffits during 2022.
Pre-tax profit for the year to March 2022 jumped just over a quarter to nearly £6m on revenue dipped by 7% to £191m.
Chief executive John Dowsett said the company, as an independent company with a clear focus on building, maintaining and trading transport infrastructure, with a solid long-term growth strategy and additional access to funding for business development, therefore Benefited a lot.
Cash held at year-end increased to £8.3m from £5.8m largely due to improved profit for the year.
During the year overall average staff numbers rose 11% to 422.
Dowsett said Octavius has charted a course to improve inclusion and diversity in the business, with plans to increase the proportion of female employees to 20 percent by March 2022/2023, up from 16 percent this year.
Article originally appeared : https://famousavenue.com/octavius-profit-rises-under-new-private-equity-ownership/
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