Spencer lifts profitability despite revenue fall

Hull-based multi-engineering contractor C Spencer Engineering Group has delivered resilient profits despite revenue fall by around a quarter to £52m.
Pre-tax profit slipped slightly from £1.9m to £1.7m but overall operating margin improved on last year.
Charlie Spencer, founder and chairman, said: “The considerable economic uncertainty during the year depressed capital investment in the UK economy, stalling the progress of a number of schemes as clients carefully consider