Thompsons of Prudhoe Holdings Ltd turned over £82.7m in the year to 31st March 2023 (2022: £69.7m) and made a pre-tax profit of £18.2m (2022: £6.9m).
That 18% growth in group turnover last year came on the back of 76% growth the previous year. In fiscal 2021 group turnover was just £39.5m.
“There’s no denying we’ve had an incredible 24 months within our business,” said managing director Nick Shilling, “which is testament to the achievements of our team and the support of our clients and wider supply chain.”
He said that much of the profit was being reinvested into the business. Investments include £10m on two washing plants for quarries at Springwell in Gateshead and Anick Grange in Northumberland, the acquisition of Lakeland Minerals Ltd with its sand and gravel quarry in Cumbria and a continued investment updating its 86-strong fleet of wagons and 160-strong plant and machinery.
Work is under way at the Anick Grange sand and gravel pit, with investment to carry out bunding, road widening works and create a new welfare unit.
Thompsons of Prudhoe Ltd accounted for £73.0m of the £82.7m group turnover last year.