Miles Smith Holdings reveals drop in profits for 2016

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Miles Smith Holdings has reported a pre-tax profit of £1.34m for the year ended 31 August 2016 as the company highlighted a year of investment. According to a document filed on Companies House, this is a fall from its pre-tax profit of £2.36m for the preceding year. In addition, the company’s operating profit dropped to £1.39m in 2016, compared to £2.42m in 2015 and its profit for the year was £887,919 in 2016 (2015: £1.78m). However the firm’s turnover increased slightly from £19.84m in 2015