Profit before tax dived from 拢19.3m to just 拢432,000 鈥� although the 拢2010 figure included a gain of 拢18.7m from the disposal of a subsidiary.
Staveley has operating cash of 拢1.3m, compared to 拢2.7m 12 months ago.
The M&E outfit provides design, procurement, installation and commissioning, testing and maintenance services.
Its main markets are defence, aerospace, education, custodial, water, commercial offices, retail and leisure, and renewable energy.
During the year, Staveley's directors undertook a 鈥渞igorous review of all costs鈥� and took 鈥渁ppropriate measures to align these with the expected performance of the business in 2011 and beyond鈥�.
The firm said its financial performance for the year was 鈥渟atisfactory鈥� and that it maintained 鈥渟trong positions鈥� in it principal market sectors.
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