Richard Crookes Constructions says its profitability has suffered over the last couple of years but there is no truth to reports it has appointed Deloitte as voluntary administrator or is in talks about a possible administration.
The Sydney-based builder, whose after-tax profit last year slumped to $7 million on revenue of $1.34 billion from $27.7 million on revenue of $1.58 billion in 2021, also said on Wednesday it had not recapitalised the business.
Theres been no administrator appointed, Richard Crookes managing director Jamie Crookes told The Australian Financial Review.
Our profitability has suffered over the last couple of years. Were on a path back to increased profitability. We have no debt…
Read the full article at: https://www.afr.com/property/commercial/richard-crookes-says-it-has-not-appointed-deloitte-as-administrator-20230614-p5dgkf