Norton Way profit up during Covid
04 January 2022
Norton Way Motors saw profit before tax rise from £2.6m to £3.2m in the year ended 31 March 2021 – despite turnover falling from £283m to £200m.
Return on sales was up from 1.0% to 1.7% and the company reduced its net interest-bearing debt by 70% from £5.3m to £1.6m.
A total of £2.7m was received in government grants. £1.4m of dividends were proposed and paid, after nil were paid in 2020.