John F Hunt was one of 10 demolition contractors provisionally found guilty of collusion and bid rigging by the Competition & Markets Authority (CMA).
John F Hunt Group wrote down a آ£5.6m exceptional item in its accounts for the year to 31st March 2021 to cover the cost of the CMA probe and an expected fine. That resulted in it posting a آ£2.2m loss before tax that year on آ£81m turnover.
However, for the following year, to 31st March 2022, unaudited accounts show that it bounced back to آ£5.6m pre-tax profit on turnover up 33% to آ£108m.
With sister company John F Hunt Power Group making a آ£5m pre-tax profit (up from آ£4m) on آ£31m turnover (up from آ£22.8m),آ cash at bank stood at آ£23m at year end.
The net asset value of the group at end of March 2022 is آ£47m, آ£30m within John F Hunt Group Ltd and آ£17m for John F Hunt Power Ltd.
For the current year, to March 2023, the combined revenues of John F Hunt Group Ltd and John F Hunt Power Ltd is anticipated to rise from آ£140m to آ£190m, with a profit of آ£13.2m.
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