Story’s turnover up 10% in 2007

Story Construction, the diverse Carlisle-based group with interests from railway maintenance to house building reported a "satisfactory" performance last year with turnover reaching £60.2m.

Despite the rise in revenues, operating profit dipped from £8.5m in 2006 to £6.8m in the 12 months to the end of March 2007, according to results filed at Companies House.

The group has several divisions covering civil engineering, house building, railway maintenance and plant hire.

Fred Story, founder and managing director, said in his statement accompanying the results: "The directors are satisfied with the group's level of activity in the year and with its financial position at the year end.

"The land bank has increased during the year, however planning restrictions have led to a decrease in house-building activity."

He said growth would continue through reinvested profits and suggested that the staff share options scheme would be widened.

Net current assets held at year-end rose from £21.5m in 2006 to £23.5m last year. Shareholders' funds also grew, from £26.7m to £31.3m.

The number of employees rose in line with operations, from 495 to 541 during the year.

Story, a former rugby forward, is also the owner and a director of Carlisle United FC. He founded Story Construction in 1987.