Moorhouse Group profit falls for the second year
CEO Lyndon Wood explains why his optimistic forecast for 2018 did not come to pass.
Moorhouse Group published its financial reports for 2018 on 4 July, calculated for the year ending 30 September 2018.
Turnover dropped to £6.22m in 2018 from £7.50m in 2017 and £10.77m in 2016.
Pre-tax profit fell 14% to £500,000 in 2018 from £570,000 in 2017.
Moorhouse had previously made pre-tax profit of £709,000 in 2016.
Explanation
It was the second consecutive year of disappointing results for the company, despite chief executive officer Lyndon Wood having predicted a return to growth
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