North East construction company Surgo says it remains optimistic for the future despite ongoing UK economic challenges, after returning to profit post-pandemic.
The Newcastle building contractor has published accounts for the year ended October 31 2021, highlighting a strong order book and healthy level of cash reserves. Total revenue for the year was £15.9m, up from £12.7m, with the previous year’s operating loss of £420,667 converting to profit of £36,369. Overall profit for the year was £4,355, up from last year’s loss of £380,602, figures the firm said reflects the challenges imposed by Covid-19 during an already difficult trading period.
The accounts also show how the firm, which employs around 75 people, tapped into additional funding of £600,000 in November 2020, through the Coronavirus Business Interruption Loan Scheme (CBILS).
