Spencer Group stays on growth track despite £5m impairment

Hull engineering specialist Spencer Group lifted turnover 15% to £70m last year but booked a £4.3m pre-tax loss after taking a one-off £5.1m write-down on a legacy green-energy investment.
Before exceptional items, the firm delivered a £3.2m trading profit as strong project delivery and tight cost control boosted performance across its rail, bridges, energy and infrastructure divisions.
The non-cash impairment related to Spencer’s historic minority stake in Hull&rsq