The company behind the demolition of Kingsnorth and Grain power stations saw pre-tax profits smash through the £1 million barrier last year.

Turnover at Brown and Mason, a third-generation family business, grew to just shy of £35 million, up from £30 million in 2014, after the firm secured a number of large demolition contracts across the country.

Directors at the company, based at Crossways Business Park, Dartford, said they were “pleased” with the results, in which pre-tax profits jumped nearly 40% to £1.2 million.

They said gross profits of £6.9 million were a success “given margins are continuing to be squeezed by wage inflation in the sector, together with volatility in the commodities market”.

Earnings before interest, taxes and other charges increased to £2.3 million, according to the latest accounts filed to Companies House.

Operating profits were £1.6 million, up from £1.3 million a year earlier, for the year to the end of April 2015.

“The company’s pipeline of projects remains strong on the back of further contract-wins during the year...” - Laura Hadden, Brown and Mason

The firm, which employs about 290 people, has cash reserves of £12.6 million, which acts as a buffer alongside “appropriate banking facilities” to make sure it can deal with fluctuations in cashflow requirements.

Company secretary Laura Hadden said: “The commencement or initial phase of any contract usually requires significant cash outlay and directors are pleased that this policy has meant that the company is able to successfully take on and complete high profile contracts.”

Brown and Mason was incorporated in 1961 in Thanet by Alf Brown, the grandfather of managing director Nick Brown and father of chairman Terry Brown.

The firm’s contract at Grain is due to come to an end this year, while the demolition of Kingsnorth will run into 2017.

Mrs Hadden added: “The company’s pipeline of projects remains strong on the back of further contract-wins during the year.”

Despite headwinds in the sector, the directors anticipate further contract-wins over the next 12 months.

“This is very encouraging and demonstrates the company’s ability to meet its customer requirements – to complete projects to their agreed timetable and programme safely, competently and efficiently.”