Costley & Costley has had an encouraging 2014 with a £2.07m pre-tax loss in 2013, being converted to a pre-tax profit of £189,347 for the 2014 year. The accounts for the year to September 2014, showed that operating profits rose 59% to £545,085 up from £342,708 the previous year while it boasted an increase of 12% in revenues to £9.5m.
The company said its 2013 reports were “skewed by the effects of insurance receipts” due to a fire at Souter Johnnie’s Inn in 2012 and also due to some properties being re-valued. However in 2014, it managed to cut debts by £550,000 and “successfully concluded negotiations to renew long term facilities.”
