New sport and leisure centre management contracts helped drive multi-sector business Castle View Ventures to a 16.6% annual turnover increase.
The Bridge of Allan-based company’s subsidiary Sports & Leisure Management (SLM) won a series of new contracts, including deals with Three Rivers District Council, Solihull Metropolitan Borough Council, Dacorum Borough Council, Crawley Borough Council, Manchester City Council and East Staffordshire Borough Council.
Turnover for the year to 31 March 2019 at CVV was £240.15 million compared with £206 million, a figure restated to reflect a change to the accounting treatment in the previous year. Operating profit was up from £8.87 million to £10.19 million and the group’s gross profit margin increased from 34.5% to 35.6%.
Profit before tax was £10.26 million compared with £18.13 million last year, boosted by accounting for the unrealised gains on revaluation of a 2009 fixed asset investment in NuCana plc, a Scottish NASDAQ-quoted biotech business.
The bulk of CVV’s sales and profits came from its subsidiary, SLM, a Leicester-headquartered business which currently manages around 200 sports and leisure facilities on behalf of 63 local authorities in England and Wales.
Its recently launched Public Health business started new contracts with Staffordshire County Council and Sandwell Metropolitan Borough Council.
Group managing director Martin Bell said: “The success of SLM is underpinned by a focus on the quality of service delivery, and once again this has been recognised by industry bodies, not least Swim England, which named the group “Swimming Pool Operator of the Year” for the seventh successive year.”
The newest operating subsidiary of CVV, Everyone Health, formerly knowns as the Weight Management Centre, specialises in the delivery of obesity and weight management education and intervention programmes. A transfer of public health contracts from other parts of the group and new contracts increased turnover to £8.2 million from £2.8 million. That resulted in a pretax profit of £1.4 million compared with a loss last year of 449,000.
At Cambuslang-based UIN Foods, the cessation of a loss-making product line resulted in a £2.3million decline in turnover to £10.9 million from £13.73 million. The business recorded a £23,000 profit compared with a loss last year of £276,000.
