A construction firm which rebuilt the Scenic Railway rollercoaster at Dreamland amusement park increased its turnover by nearly three quarters last year.

However, Sittingbourne-based Topbond Group failed to convert its increase in revenues to profits as its margins were squeezed by competition.

The business, which has five divisions spanning various kinds of construction, from footbridges to joinery, had a turnover of £9.7 million in the year to the end of September, compared to £5.5 million for the previous 12 months.

Operating profit increased 3% to £665,000 but pre-tax profits slid 2% of £623,896 according to its latest accounts filed to Companies House.

Director Sean Springett blamed the flatlining figures on “the competitiveness of the market place”.

The firm also made investments in its plant and machinery which will “continue to drive the business forward in the future”.

“The directors are confident that the investment in plant and machinery with the company’s strong brand in the market place will maintain turnover but margins will remain at recorded levels if the industry remains as competitive as in the past year..." - Sean Springett, Topbond Group

Its capital expenditure and financial investments were worth £1.6 million, resulting in a £654,000 reduction in its cash.

Mr Springett said: “The directors are confident that the investment in plant and machinery with the company’s strong brand in the market place will maintain turnover but margins will remain at recorded levels if the industry remains as competitive as in the past year.

“The investment in infrastructure has increased overheads but even so a good operating profit has been recorded.

“The focused effort to control overheads and improve efficiencies continues.”

It has been a mixed year for the firm, which employs about 50 people.

It gained huge exposure from the contract to restore the Scenic Railway at Dreamland in Margate, although the attraction only began operating in October, missing the crucial summer season for the amusement park, which reopened in June.

The company was fined £70,000 and ordered to pay costs £22,876.60 at Maidstone Crown Court in January after it was ruled it had not taken adequate precautions before a man was seriously injured when a brick culvert collapsed on him in Tonbridge in 2012.

Michael Skitt from Ashford spent 26 days in hospital after suffering shoulder blade breaks, an open shin break and a dislocated knee.

He had to give up fill time work and walks with a stick.