Engineering firm in Hull reports profit of £500,000

Engineering firm C Spencer reported turnover of £42m and a pre-tax profit of £500,000 for the year ended March 31, despite challenging market conditions due to the pandemic.

Menai Suspension Bridge.

The Hull-based firm said site closures due to Covid in the early part of the business year resulted in very low operating levels with restrictive working practices during lockdown causing delays on several projects and postponement of a number of newly-secured contracts.

The company added that it continues to deliver engineering solutions for its blue-chip client base in the rail, bridges and the industrial sectors, delivering a number of critical infrastructure projects.

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It entered the current financial year with an order book of secured work totalling £53m and a strong pipeline of opportunities.

Charlie Spencer OBE, founder and executive chairman of the business, said: “Given the difficult circumstances over the past 18 months as a result of the pandemic, this is a positive set of results and our staff are to be commended for their efforts and commitment in what has been a very challenging period.

“We are now in the happy position of recruiting new staff to service our increasing order book.

“Despite the pandemic we have continued to recruit apprentices, primarily from Ron Dearing University Technical College in Hull, to join our apprenticeship programme and I am delighted to say this is having a fantastic impact on the business.

“While we will always seek to add quality people to our existing team and are currently recruiting to support our expansion, we firmly believe in growing our own engineers and leaders of the future and see the high-level apprenticeship route as being pivotal to this strategy.”

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