Major Profit Boost Predicted for C&M Group as Turnover Rises Again
The C&M Group is projecting a huge surge in profits after recording turnover in excess of £13.5 million in its accounts for the year ending March 31, 2006.
The company will see its turnover rise to £20million in the current financial year, with profits set to jump to £3 million from last year's £1.15million.
C&M Group has experienced rapid growth since re-structuring its business to capitalize on opportunities in the global oil and gas market. The launch of two new companies, C&M Marine Services and C&M Advanced Technology, under the C&M Group banner was confirmed earlier this year.
Established in 1974 by Adrian Connell, the company was founded on its electrical contracting and kitchen engineering divisions.
Mr. Connell, CEO and chairman of the group, says last year's results and projected further increase in turnover perfectly match his ambitious plans to further cement the group's position as a major player within the global oil and gas industry.
"In a very short space of time, we have become a recognized international player. Our expansion into new markets has gathered pace and the hard work of our staff has been central to our success," said Mr. Connell.
"Our excellent growth, reflected in our results for the financial year 2005/6 show the capabilities of the business in the delivery of turnkey projects and help demonstrate the breadth of our expertise beyond electrical engineering services."
"In recognition of the entire team effort in achieving the award for business growth in the Grampian Business Awards - the prize money was invested in commemorative leather wallets and purses for every member of staff who have done so much to ensure the business performs at the highest level."
C&M Group is a multi-disciplined electrical engineering with independent companies and divisions operating in the areas of vessel management, inspection and conversion, marine engineering, advanced technology, offshore electrical and instrumentation, kitchen engineering, energy and lighting and contracting.
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