The Crampton building group made a pre-tax profit of €7 million on a turnover of €145 million in 2003, according to accounts just filed, reports Colm Keena.
The results compare with a pre-tax profit of €10 million on a turnover of €160 million in the year to end December 2002.
The group is 89.9 per cent owned by Mr George C Crampton, Mr George D Crampton and Mr John P Crampton. Mr GD and Mr JP Crampton are joint managing directors of G&T Crampton (Holdings) Ltd.
The accounts note that total directors' remuneration during 2003 was €3.5 million. This was made up of €2.37 million for services other than as directors, and €1.13 million in pension scheme contributions. Dividends totalling €2.5 million were paid.
The group employed an average of 272 people during the year, of which 237 were employed in the Republic. Total staff costs were €19.3 million.
At the end of 2003 the profit and loss account balance was €17 million. Total fixed assets were €66.7 million and cash at bank and in hand was €20 million.
The bulk of the group's turnover (€137.8 million) was in the Republic. Most of the group's subsidiaries are located in the Republic though there are also subsidiaries in Northern Ireland, England and the US.
The directors, in their report, stated that the principal activities of the group were building contracting and the holding of properties. "This was another year in which satisfactory levels of activity and trading margins were recorded."
