Diversification pays off for concrete frame specialist Statom

Statom Group has enjoyed a surge in profits and turnover after diversifying into new markets.
Latest results for the year to 30 November 2024 show turnover up to £180m from £143m last time while pre-tax profit jumped to £10.3m from £8.5m as gross profit margins remained steady at 16% and the year-end cash balances grew significantly to £31.2m
Chief Financial Officer Edward Nixon said Statom had benefited from diversification into civil engineering, infrastructure an