Home News Pandemic hits turnover and profits at OCL Facades
Basildon-based OCL Facades, one of the leading facades and interior fit-out specialists, has reported a 30% fall in turnover in its latest accounts to June 2020. The fall was caused when sites closed during the Spring pandemic lockdown, however, profit margins have held at 12%.
Turnover at OCL Facades decreased in the year from £53 million in 2019 to £38 million in 2020. The Company said this was due almost entirely to the impact of the COVID-19 pandemic which meant that sites were closed through most of the period from March to May 2020.
The fall in turnover had an impact on OCL Facades’ operating profit with profits before tax easing to £4.5 million in 2020 compared to £6.2 million in 2019. Margins stayed at an impressive 12%.
OCL Facades order book remains strong but has been adversely affected by delays in client decision-making on starting contract works.