Canongate hails 'rewarding year' in 2018 as turnover increases

Canongate hails 'rewarding year' in 2018 as turnover increases

Canongate and Severn House have announced consolidated turnover up 24% to £11.9m in 2018, from £9.6m in 2017, with pre-tax profits of £966,272.

The results were hailed as a “rewarding year”, after 2017 saw the consolidated company report a pre-tax loss of £440,000, which it blamed on the September 2017 acquisition of Severn House and writing off "some sizeable unearned advances".

For Canongate alone, turnover rose to £9.5m in 2018 from £8.9m the year before, with a pre-tax profit of £456,000 in the year ending 31st December 2018, the company said. The surge was partly due to “record-break...

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