Leading UK contractor believes now is the time for frugality and consolidation.
John Thompson, chairman of Thompsons of Prudhoe, says it has been a difficult 12 months for his business with turnover well down on the previous year. However, he believes the steps it has taken in 2009 will stand it in good stead for another challenging year.
And John Thompson, the son of company founder Bill Thompson, believes maintaining a close eye on the economy’s ongoing difficulties will be the key to the company’s success.
The 60-year-old firm, which operates in demolition, construction and quarrying sectors, saw revenues fall from £30m in 2008 to £22m last year.
“We have to be careful in the current environment,” he said in a frank interview. There is not the confidence around and we have to keep a tight control on costs. This is not the time to be cavalier – it’s the time to be frugal and consolidate.”
Read the full interview here.
