Durham-based CA Group has reported another successful year, marking its third consecutive year of revenue growth after the COVID-induced downturn.
- The firm’s turnover for the year ending 30 September 2023 rose to £117.2m, an increase from the £107.5m reported in the previous year.
- Pre-tax profits followed this upward trend, escalating to £11.4m with an enhanced margin of 9.7 per cent, compared to last year’s £7m and 6.6 per cent respectively.
- The company issued interim dividends totalling £14m, significantly higher than the £3m distributed the previous year.
- Despite a reduction in headcount, the annual wage bill climbed by 21 per cent, reflecting CA Group’s commitment to staff compensation.
In a notable achievement, the CA Group reached a turnover of £117.2 million for the year ending 30 September 2023. This marks a significant increase from the £107.5 million recorded in the 2021/22 financial period, demonstrating a strong recovery trajectory for the third year running post the COVID-19 pandemic downturn.
The company’s pre-tax profits saw a notable rise to £11.4 million, paired with a margin increase to 9.7 per cent. This performance outstrips the previous year’s figures of £7 million profit and a 6.6 per cent margin, suggesting strategic improvements in operational efficiency.
Highlighting a proactive financial strategy, CA Group distributed interim dividends amounting to £14 million, a substantial rise from the previous year’s £3 million. This decision underscores the firm’s robust financial health and shareholder value proposition, despite directors opting not to propose a final dividend.
Financial stability is further evident as CA Group declared no outstanding bank loans and a healthy cash reserve of £17.3 million at year-end, up from £10.9 million the year before. These figures underscore their prudent fiscal management and solid cash flow handling.
Despite a decrease in the workforce from an average of 247 to 228, the company’s wage expenditure increased by 21 per cent, reaching £13.6 million compared to the previous year’s £11.2 million. This rise indicates a deliberate strategy to invest more in its workforce, potentially offering improved benefits or salaries to retain key talent.
CA Group’s latest financial results underscore their strategic achievements in revenue growth and operational efficiency, continuing a positive trajectory post-pandemic.
