LNT Group sees turnover reach £96m in 2015 year-end results

The LNT Group, based in Garforth, has reported significant growth for the financial year ending 2014-15.

The results show that LNT’s turnover increased by 5.7% to £95.8m in 2015.

All five businesses grew during this period, with LNT’s international sales rising by 29% to £8.5m.

Overall, the Group reported an 84% improvement on operating performance from 2013-14 achieving an operating profit of £300k, when excluding £600k of non-recurring advisory transaction and bank refinance costs.

Since the year end, LNT has announced a number of major advances in the business. In September 2015, LNT announced the sale of 25 of its care homes to Anchor, retaining 15 homes under the Ideal Carehomes brand.

As a result, the LNT Group Limited company net assets now stand at £25.8m compared to £2.1m at March 2015.

Matt Lowe, chief executive of LNT, said: “The 2015 accounts show a very positive picture for the LNT Group.

“I am particularly pleased by our international trade which continues to go from strength to strength. Both Construction and Software achieved huge increases in both turnover and profit. The positive trend in performance of the Group since the end of the 2015 year-end has continued and we are already feeling very confident about the 2016 results.”

The sale of homes to Anchor will not show in LNT’s accounts until the Group’s 2016 results are announced. The deal left LNT cash positive and the smaller retained Ideal Carehomes’ portfolio includes the newest and most modern care home facilities.

LNT has since been investing heavily in these homes, and the Ideal Carehomes’ team, further securing growth for this division of the Group.

Lawrence Tomlinson, Chairman of LNT, added: “During the past year, not only have we seen improved business performance and significantly beneficial financial deals, but have also been working to ensure operational efficiency across the Group.

“By increasing vertical integration between the businesses, sharing resources and knowledge, we’ve put the business on a very stable footing. It has been an exciting period of change for LNT which guarantees a sustainable future both in the medium and long-term for us.”

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