Mini crane specialist GGR Group saw turnover increase by 7% in 2023 to £35.2m (2022: £33.1m) and pre-tax-profit grow to £6.8m (2022: £4.0m).
GGR’s revenue comes from the hire and sale of mini cranes, as well as associated labour services and training. It was the hire side of the business that drove revenue growth for the business last year, rather than sales, resulting in gross profit margin increasing from 53% to 56%.
Falcon Tower Crane Services, by contrast, saw turnover fall 9% to £43.0m in the year to 31st December 2023, from £47.1m in 2022. Operating profit was down to £535,858 (2022: £895,175) due to the company’s focus on cost reduction.
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