Business

Belfast fit-out firm reports £1m rise in pre-tax profits

One of Portview's previous projects was the fit-out of a hospitality suite at West Ham United's London Stadium
One of Portview's previous projects was the fit-out of a hospitality suite at West Ham United's London Stadium One of Portview's previous projects was the fit-out of a hospitality suite at West Ham United's London Stadium

A BELFAST based fit-out contractors has reported an increase of almost £1 million in pre-tax profits over the past year.

Portview Fitout, which has headquarters at Florenceville Avenue has seen its profits before tax rise from £2.24 million in 2015 to £3.2 million in 2016, based upon a "good mix of work across retail,office, high-end residential and stadia sectors".

Portview recorded turnover of £40.4 million for the year up to November 30, 2016, a marginal decrease onthe 2015 figure (£41.1 million).

Of the substantial company turnover over £38 million came from sales in the UK, with the remainder coming from the rest of Europe.

The construction firm also increased its workforce over the year from 77 to 82, paying almost £5 million in wages over the year.

The amount paid to the company directors' almost doubled in the space of 12 months rising from £450,000 in 2015 to £890,000 last year.

Reviewing the annual accounts the director's said the company "performed strongly" maintaining the levels established in 2015.

"The company will continue to pursue high end work which reflects the company's skill set. The environment remains very competitive, but repeat business remains high at 83 per cent underpinning the level of work at the £40 million mark."

Established in 1975, Portview has evolved from a mainstream construction company to a pure fit-out management contractor, which works with well-known brands such as Harvey Nichols, Victoria's Secret and Fortnum & Mason.

The company is known for projects including including the fit-out of a hospitality suite at West Ham United's London Stadium, the redesign of Chelsea Court Place and work on Fortnum & Mason's London Piccadilly store.