With its builders’ merchanting side gone, Warner’s turnover is down, but pre-tax profits are up 25%. During the period, Warner earned profits of £2.1m (£2m) by selling residential stock that fell vacant; these surpluses will be included in the balance sheet. The company spent £5.3m on new properties, including two office buildings in Ruislip and Hull; it is also redeveloping 18-20 York Buildings, WC2, and building the second phase of the Ellesmere Port shopping centre.
With its builders’ merchanting side gone, Warner’s turnover is down, but pre-tax profits are up 25%. During the period, Warner earned profits of £2.1m (£2m) by selling residential stock that fell vacant; these surpluses will be included in the balance sheet. The company spent £5.3m on new properties, including two office buildings in Ruislip and Hull; it is also redeveloping 18-20 York Buildings, WC2, and building the second phase of the Ellesmere Port shopping centre.
