Tottenham’s new stadium certainly is helping out the companies involved in the deal as concrete frame specialist Morrisroe posted increased profits, turnover and margins in the latest financial results of the organisation.
We would be building a state-of-the-art stadium over the old White Hart Lane ground and would also have to share the stadium for other events, which includes NFL games but it has been smooth sailing for now and hasn’t had any major hiccups.
A report by Construction News UK claims that the concrete specialists delivered the frame for the new stadium to main contractor Mace and saw a turnover rise of 47.4% to reach £162.8 million for the year until 31 October 2016, compared with just £110.4 million 12 months earlier.
The contractor also saw a rise in its pre-tax profit which rose close to 52% and reach £14.4 million, which is higher than the £9.5 million it posted a year back. The profit margin also rose to 8.8%, up from 8.3%.
While the board of the organisation still warned about some cost increases due to the devaluation of the pound, they were still able to add 15 staff workers into their team which rose to 177 from 162.
“The board continues to monitor these changes and plan accordingly to mitigate potential effects,” the company said, regarding the situation of the pound and the political uncertainty.
While all is going great on the stadium front, the major worry next season would be a lack of signings and not adapting to playing at Wembley ahead of a crucial campaign.
We did struggle a lot in the national stadium and were poor in our European outings, which certainly will be a worry for Mauricio Pochettino and the side. However, we did play some of the best football in the country last season and if Harry Kane and his partners continue that form, we should brush aside most of our competition even if we play at Wembley.
Hopefully, things will get better after the coming season as we play in our new home, and credit must be given where it is due as it is coming along mighty well.
