Lakesmere report positive results

Lakesmere has reported a massive rise in profits between the six months to January 2008 and June this year.

Lakesmere has reported a massive rise in profits between the six months to January 2008 and June this year.

The specialist roofing, wall and glazing company reported a pre-tax profit of £1.3 million, a rise of 400 per cent on the £260,000 figure reported six months ago.

Shareholders were able to divide £447,000 between themselves for dividends, while the highest paid director in the company took home £112,000, although his pension scheme benefited from a £225,000 bonus.

Lakesmere has kept contracts with public organisations as well as private, perhaps shielding the contractor from the credit crunch that has affected many private-orientated firms in the past 12 months.

Despite the rise in fortunes however, the staff statistics looked largely unaltered, as the company remained staffed at 164.

Of the 164 staff, 138 are production staff and 26 administrators, showing that jobs have been secure at the company despite the economic slowdown.

The wage bill in fact increased by £700,000, to a new high of £6.4 million.