Bollington makes £645,000 loss following restructure
Directors confident firm will return to profitability "in the near future".
Bollington reported a loss of £645,273 for the year ended 31 December 2013, down from the £118,278 profit before tax reported the previous year.
Turnover remained steady at £11.8m (2012: £11.9m) but expenses grew from £9.9m to over £11.8m. This pushed the firm into making an operating loss of £685,812 down from the £1.5m operating profit made in 2012.
These results follow a management buyout (MBO) early last year and directors blamed the losses on the subsequent restructure of the firm.
Paul
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