Hammonds enjoys massive PEP hike

Hammonds has seen profit per equity partner (PEP) rise by 61 per cent to £328,000 after a year of tough management. Turnover rose by 4 per cent to £132.7m. Hammonds is now running with a profit margin of 23 per cent, up 7 per cent on last year’s 16 per cent. Hammonds has also reduced its borrowings by 38 per cent and plans to continue to cut its overdraft, which in the past has been as high as £30m.