Financial
In the financial year to May 2007 sales revenue is expected to reach £50 million which is a tremendous result from that standing start just nine years ago.
The sustained growth has been achieved because Customers have received high service levels and value for money and they have continued to place their valued business with the Denman Group. Customers would not have placed their confidence in Denman had we not reciprocated with the continued investment in our infrastructure, people and services which is something that we will continue to do.
Pre tax profits were adversely affected during the financial years 2005/6 but there has been a return to profits in the year 2006/7 which has been helped by further increased sales revenue. Margins will always be under pressure because of increases in the cost of resources and a desire to give clients better value for money year on year however, with aims for efficiency improvements and reorganizing what we do and the way we do it will underpin future financial stability and viability of the business.
A strong balance sheet and careful cash management has allowed the business to keep its gearing low which will provide a sound basis for further development of the business.