fortrea development limited
fortrea development limited Company Information
Company Number
02022667
Next Accounts
Sep 2025
Shareholders
fortrea uk holdings limited
fortrea inc
Group Structure
View All
Industry
Other research and experimental development on natural sciences and engineering
Registered Address
5 foundation park, roxborough way, maidenhead, SL6 3UD
Website
www.covance.comfortrea development limited Estimated Valuation
Pomanda estimates the enterprise value of FORTREA DEVELOPMENT LIMITED at £523.1m based on a Turnover of £191.3m and 2.73x industry multiple (adjusted for size and gross margin).
fortrea development limited Estimated Valuation
Pomanda estimates the enterprise value of FORTREA DEVELOPMENT LIMITED at £466.8m based on an EBITDA of £37.4m and a 12.48x industry multiple (adjusted for size and gross margin).
fortrea development limited Estimated Valuation
Pomanda estimates the enterprise value of FORTREA DEVELOPMENT LIMITED at £214.5m based on Net Assets of £105.4m and 2.03x industry multiple (adjusted for liquidity).
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Fortrea Development Limited Overview
Fortrea Development Limited is a live company located in maidenhead, SL6 3UD with a Companies House number of 02022667. It operates in the other research and experimental development on natural sciences and engineering sector, SIC Code 72190. Founded in May 1986, it's largest shareholder is fortrea uk holdings limited with a 100% stake. Fortrea Development Limited is a mature, mega sized company, Pomanda has estimated its turnover at £191.3m with declining growth in recent years.
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Fortrea Development Limited Health Check
Pomanda's financial health check has awarded Fortrea Development Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 5 areas for improvement. Company Health Check FAQs
4 Strong
2 Regular
5 Weak
Size
annual sales of £191.3m, make it larger than the average company (£4.3m)
£191.3m - Fortrea Development Limited
£4.3m - Industry AVG
Growth
3 year (CAGR) sales growth of -3%, show it is growing at a slower rate (6.8%)
-3% - Fortrea Development Limited
6.8% - Industry AVG
Production
with a gross margin of 46.9%, this company has a comparable cost of product (46.9%)
46.9% - Fortrea Development Limited
46.9% - Industry AVG
Profitability
an operating margin of 7% make it more profitable than the average company (3.6%)
7% - Fortrea Development Limited
3.6% - Industry AVG
Employees
with 2105 employees, this is above the industry average (44)
2105 - Fortrea Development Limited
44 - Industry AVG
Pay Structure
on an average salary of £66.8k, the company has an equivalent pay structure (£64.5k)
£66.8k - Fortrea Development Limited
£64.5k - Industry AVG
Efficiency
resulting in sales per employee of £90.9k, this is less efficient (£124k)
£90.9k - Fortrea Development Limited
£124k - Industry AVG
Debtor Days
it gets paid by customers after 42 days, this is earlier than average (55 days)
42 days - Fortrea Development Limited
55 days - Industry AVG
Creditor Days
its suppliers are paid after 13 days, this is quicker than average (44 days)
13 days - Fortrea Development Limited
44 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Fortrea Development Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 4 weeks, this is less cash available to meet short term requirements (32 weeks)
4 weeks - Fortrea Development Limited
32 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 56.6%, this is a higher level of debt than the average (44.4%)
56.6% - Fortrea Development Limited
44.4% - Industry AVG
FORTREA DEVELOPMENT LIMITED financials
Fortrea Development Limited's latest turnover from December 2023 is £191.3 million and the company has net assets of £105.4 million. According to their latest financial statements, Fortrea Development Limited has 2,105 employees and maintains cash reserves of £13 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 191,341,000 | 219,932,000 | 206,851,000 | 208,945,000 | 220,204,000 | 130,710,000 | 160,093,000 | 147,704,000 | 117,134,000 | 111,866,000 | 115,432,000 | 97,939,000 | 83,729,254 | 78,289,161 | 75,315,375 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | |||||||||||||||
| Gross Profit | |||||||||||||||
| Admin Expenses | |||||||||||||||
| Operating Profit | 13,441,000 | 21,738,000 | 26,482,000 | 7,837,000 | 5,753,000 | 16,931,000 | 21,523,000 | 15,005,000 | 10,680,000 | 11,716,000 | 10,883,000 | 5,922,000 | 4,612,477 | 3,979,255 | 4,934,547 |
| Interest Payable | 3,761,000 | 1,821,000 | 204,000 | 229,000 | 155,000 | 42,000 | 91,000 | 51,000 | 1,000 | 4,000 | 3,538 | 4,832 | 2,585 | ||
| Interest Receivable | 211,000 | 369,000 | 474,000 | 17,000 | 14,028,000 | 50,000 | 95,000 | 526,000 | 539,000 | 453,000 | 289,311 | 250,822 | 142,187 | ||
| Pre-Tax Profit | 9,891,000 | 19,917,000 | 26,851,000 | 8,311,000 | 5,566,000 | 17,674,000 | 35,396,000 | 15,013,000 | 37,684,000 | 12,191,000 | 11,421,000 | 6,371,000 | 4,898,250 | 4,225,245 | 5,074,149 |
| Tax | -7,751,000 | -6,820,000 | -9,494,000 | -5,557,000 | -2,127,000 | -3,877,000 | -2,958,000 | 36,000 | -3,763,000 | -2,865,000 | 2,003,000 | -782,000 | -404,640 | -437,692 | -283,383 |
| Profit After Tax | 2,140,000 | 13,097,000 | 17,357,000 | 2,754,000 | 3,439,000 | 13,797,000 | 32,438,000 | 15,049,000 | 33,921,000 | 9,326,000 | 13,424,000 | 5,589,000 | 4,493,610 | 3,787,553 | 4,790,766 |
| Dividends Paid | 6,566,000 | 4,000,000 | 31,000,000 | 22,000,000 | 75,000,000 | ||||||||||
| Retained Profit | -4,426,000 | 13,097,000 | 17,357,000 | 2,754,000 | 3,439,000 | 9,797,000 | 1,438,000 | -6,951,000 | -41,079,000 | 9,326,000 | 13,424,000 | 5,589,000 | 4,493,610 | 3,787,553 | 4,790,766 |
| Employee Costs | 140,643,000 | 151,369,000 | 147,433,000 | 138,178,000 | 117,880,000 | 85,043,000 | 82,519,000 | 72,058,000 | 62,640,000 | 58,649,000 | 57,767,000 | 46,746,000 | 38,351,362 | 32,458,462 | 29,863,137 |
| Number Of Employees | 2,105 | 2,364 | 2,072 | 2,253 | 2,132 | 1,442 | 1,447 | 1,317 | 1,125 | 1,101 | 1,158 | 909 | 741 | 637 | 649 |
| EBITDA* | 37,409,000 | 45,810,000 | 49,261,000 | 30,071,000 | 22,937,000 | 18,231,000 | 23,421,000 | 16,903,000 | 16,370,000 | 15,145,000 | 11,915,000 | 6,698,000 | 5,202,617 | 4,515,373 | 5,477,257 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 4,573,000 | 9,332,000 | 9,593,000 | 8,421,000 | 6,747,000 | 14,391,000 | 4,149,000 | 4,591,000 | 5,385,000 | 6,706,000 | 5,720,000 | 4,800,000 | 1,122,807 | 1,172,764 | 1,632,180 |
| Intangible Assets | 104,244,000 | 124,094,000 | 143,944,000 | 163,340,000 | 183,235,000 | 3,812,000 | |||||||||
| Investments & Other | 388,000 | 388,000 | 388,000 | 8,435,000 | 22,527,000 | 8,239,000 | 8,239,000 | 8,239,000 | 8,521,000 | 191,000 | 48,000 | 20,868 | 459 | 459 | |
| Debtors (Due After 1 year) | 3,524,000 | 3,992,000 | 3,115,000 | 3,441,000 | |||||||||||
| Total Fixed Assets | 109,205,000 | 133,814,000 | 153,925,000 | 183,720,000 | 216,501,000 | 14,391,000 | 15,503,000 | 16,271,000 | 13,624,000 | 19,039,000 | 5,911,000 | 4,848,000 | 1,143,675 | 1,173,223 | 1,632,639 |
| Stock & work in progress | |||||||||||||||
| Trade Debtors | 22,229,000 | 25,721,000 | 25,672,000 | 11,295,000 | 26,885,000 | 14,588,000 | 6,096,000 | 7,214,000 | 3,335,000 | 3,496,000 | 4,740,000 | 896,000 | 529,248 | 86,995 | 2,275,121 |
| Group Debtors | 74,820,000 | 44,087,000 | 25,045,000 | 132,823,000 | 92,353,000 | 11,147,000 | 6,610,000 | 2,887,000 | 3,137,000 | 2,657,000 | 8,884,000 | 6,653,240 | 9,818,418 | 12,730,440 | |
| Misc Debtors | 23,912,000 | 25,823,000 | 24,456,000 | 47,659,000 | 40,891,000 | 33,458,000 | 24,537,000 | 18,135,000 | 12,921,000 | 12,197,000 | 7,176,000 | 2,997,476 | 4,014,050 | 3,887,114 | |
| Cash | 12,981,000 | 15,927,000 | 15,806,000 | 18,719,000 | 15,733,000 | 11,796,000 | 13,545,000 | 15,170,000 | 21,948,000 | 61,372,000 | 61,495,000 | 52,604,000 | 53,401,592 | 47,137,697 | 34,623,353 |
| misc current assets | |||||||||||||||
| total current assets | 133,942,000 | 111,558,000 | 90,979,000 | 210,496,000 | 175,862,000 | 98,381,000 | 64,246,000 | 53,531,000 | 46,305,000 | 80,926,000 | 81,089,000 | 69,560,000 | 63,581,556 | 61,057,160 | 53,516,028 |
| total assets | 243,147,000 | 245,372,000 | 244,904,000 | 394,216,000 | 392,363,000 | 112,772,000 | 79,749,000 | 69,802,000 | 59,929,000 | 99,965,000 | 87,000,000 | 74,408,000 | 64,725,231 | 62,230,383 | 55,148,667 |
| Bank overdraft | |||||||||||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 3,786,000 | 3,074,000 | 3,132,000 | 2,580,000 | 6,482,000 | 1,926,000 | 2,126,000 | 2,108,000 | 1,332,000 | 2,239,000 | 687,000 | 2,950,000 | 1,864,059 | 251,783 | 303,781 |
| Group/Directors Accounts | 105,660,000 | 94,137,000 | 108,625,000 | 258,569,000 | 259,172,000 | 12,237,000 | 13,348,000 | 631,000 | 3,000,000 | 43,436 | 1,225,638 | 1,539,729 | |||
| other short term finances | 8,093,000 | ||||||||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 28,253,000 | 32,676,000 | 36,917,000 | 43,326,000 | 40,752,000 | 12,652,000 | 12,320,000 | 14,767,000 | 12,753,000 | 14,359,000 | 13,515,000 | 11,536,654 | 15,368,366 | 13,953,865 | |
| total current liabilities | 137,699,000 | 129,887,000 | 148,674,000 | 304,475,000 | 306,406,000 | 23,446,000 | 27,015,000 | 27,776,000 | 16,730,000 | 17,992,000 | 15,046,000 | 16,465,000 | 13,444,149 | 16,845,787 | 15,797,375 |
| loans | 6,031,000 | 5,876,000 | 19,636,000 | 22,849,000 | 8,069,000 | 2,000,000 | |||||||||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | |||||||||||||||
| other liabilities | |||||||||||||||
| provisions | 138,000 | 315,000 | 181,000 | 40,000 | 1,267,000 | 1,429,646 | 1,398,035 | 401,149 | |||||||
| total long term liabilities | 6,169,000 | 6,191,000 | 19,636,000 | 22,849,000 | 32,294,000 | 8,069,000 | 2,000,000 | 181,000 | 40,000 | 1,267,000 | 1,429,646 | 1,398,035 | 401,149 | ||
| total liabilities | 137,699,000 | 136,056,000 | 154,865,000 | 324,111,000 | 329,255,000 | 55,740,000 | 35,084,000 | 29,776,000 | 16,911,000 | 17,992,000 | 15,086,000 | 17,732,000 | 14,873,795 | 18,243,822 | 16,198,524 |
| net assets | 105,448,000 | 109,316,000 | 90,039,000 | 70,105,000 | 63,108,000 | 57,032,000 | 44,665,000 | 40,026,000 | 43,018,000 | 81,973,000 | 71,914,000 | 56,676,000 | 49,851,436 | 43,986,561 | 38,950,143 |
| total shareholders funds | 105,448,000 | 109,316,000 | 90,039,000 | 70,105,000 | 63,108,000 | 57,032,000 | 44,665,000 | 40,026,000 | 43,018,000 | 81,973,000 | 71,914,000 | 56,676,000 | 49,851,436 | 43,986,561 | 38,950,143 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 13,441,000 | 21,738,000 | 26,482,000 | 7,837,000 | 5,753,000 | 16,931,000 | 21,523,000 | 15,005,000 | 10,680,000 | 11,716,000 | 10,883,000 | 5,922,000 | 4,612,477 | 3,979,255 | 4,934,547 |
| Depreciation | 4,118,000 | 4,222,000 | 3,383,000 | 2,339,000 | 1,922,000 | 1,300,000 | 1,898,000 | 1,898,000 | 1,878,000 | 1,685,000 | 1,032,000 | 776,000 | 590,140 | 536,118 | 542,710 |
| Amortisation | 19,850,000 | 19,850,000 | 19,396,000 | 19,895,000 | 15,262,000 | 3,812,000 | 1,744,000 | ||||||||
| Tax | -7,751,000 | -6,820,000 | -9,494,000 | -5,557,000 | -2,127,000 | -3,877,000 | -2,958,000 | 36,000 | -3,763,000 | -2,865,000 | 2,003,000 | -782,000 | -404,640 | -437,692 | -283,383 |
| Stock | |||||||||||||||
| Debtors | 25,330,000 | 20,458,000 | -120,128,000 | 31,180,000 | 149,533,000 | -39,228,000 | 12,014,000 | 17,445,000 | 4,803,000 | -40,000 | 2,638,000 | 6,776,036 | -3,739,499 | -4,973,212 | 18,892,675 |
| Creditors | 712,000 | -58,000 | 552,000 | -3,902,000 | 4,556,000 | -200,000 | 18,000 | 776,000 | -907,000 | 1,552,000 | -2,263,000 | 1,085,941 | 1,612,276 | -51,998 | 303,781 |
| Accruals and Deferred Income | -4,423,000 | -4,241,000 | -6,409,000 | 2,574,000 | 40,752,000 | -12,652,000 | 332,000 | -2,447,000 | 2,014,000 | -1,606,000 | 844,000 | 1,978,346 | -3,831,712 | 1,414,501 | 13,953,865 |
| Deferred Taxes & Provisions | -138,000 | -177,000 | 315,000 | -181,000 | 181,000 | -40,000 | -1,227,000 | -162,646 | 31,611 | 996,886 | 401,149 | ||||
| Cash flow from operations | 479,000 | 14,056,000 | 154,353,000 | -7,994,000 | -83,415,000 | 8,799,000 | -2,358,000 | 9,092,000 | 12,226,000 | 8,634,000 | 2,041,605 | 6,349,651 | 11,410,282 | 959,994 | |
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | -8,047,000 | -14,092,000 | 22,527,000 | -8,239,000 | -282,000 | 8,330,000 | 143,000 | 27,132 | 20,409 | 459 | |||||
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | 11,523,000 | -14,488,000 | -149,944,000 | -603,000 | 259,172,000 | -12,237,000 | -1,111,000 | 12,717,000 | -2,369,000 | 3,000,000 | -43,436 | -1,182,202 | -314,091 | 1,539,729 | |
| Other Short Term Loans | -8,093,000 | 8,093,000 | |||||||||||||
| Long term loans | -6,031,000 | 155,000 | -13,760,000 | -3,213,000 | 22,849,000 | -8,069,000 | 6,069,000 | 2,000,000 | |||||||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | -3,550,000 | -1,821,000 | 369,000 | 474,000 | -187,000 | 13,873,000 | 8,000 | 4,000 | 475,000 | 538,000 | 449,000 | 285,773 | 245,990 | 139,602 | |
| cash flow from financing | 2,500,000 | -9,974,000 | -160,758,000 | 901,000 | 276,378,000 | 22,032,000 | 18,684,000 | -241,000 | 4,208,000 | 2,352,000 | 1,641,128 | 474,836 | 1,180,764 | 35,838,708 | |
| cash and cash equivalents | |||||||||||||||
| cash | -2,946,000 | 121,000 | -2,913,000 | 2,986,000 | 3,937,000 | -1,749,000 | -1,625,000 | -6,778,000 | -39,424,000 | -123,000 | 8,891,000 | -797,592 | 6,263,895 | 12,514,344 | 34,623,353 |
| overdraft | |||||||||||||||
| change in cash | -2,946,000 | 121,000 | -2,913,000 | 2,986,000 | 3,937,000 | -1,749,000 | -1,625,000 | -6,778,000 | -39,424,000 | -123,000 | 8,891,000 | -797,592 | 6,263,895 | 12,514,344 | 34,623,353 |
fortrea development limited Credit Report and Business Information
Fortrea Development Limited Competitor Analysis
Perform a competitor analysis for fortrea development limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other mega companies, companies in SL6 area or any other competitors across 12 key performance metrics.
fortrea development limited Ownership
FORTREA DEVELOPMENT LIMITED group structure
Fortrea Development Limited has 1 subsidiary company.
Ultimate parent company
FORTREA HOLDINGS INC
#0162451
2 parents
FORTREA DEVELOPMENT LIMITED
02022667
1 subsidiary
fortrea development limited directors
Fortrea Development Limited currently has 4 directors. The longest serving directors include Ms Sandra Van Der Vaart (Jun 2019) and Ms Jill McConnell (Jun 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Ms Sandra Van Der Vaart | United States | 65 years | Jun 2019 | - | Director |
| Ms Jill McConnell | United States | 51 years | Jun 2023 | - | Director |
| Mr David Cooper | England | 54 years | Jun 2023 | - | Director |
| Mr James Hanson | United States | 53 years | Aug 2024 | - | Director |
P&L
December 2023turnover
191.3m
-13%
operating profit
13.4m
-38%
gross margin
46.9%
-0.18%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
105.4m
-0.04%
total assets
243.1m
-0.01%
cash
13m
-0.18%
net assets
Total assets minus all liabilities
fortrea development limited company details
company number
02022667
Type
Private limited with Share Capital
industry
72190 - Other research and experimental development on natural sciences and engineering
incorporation date
May 1986
age
39
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
labcorp clinical development limited (April 2023)
covance clinical and periapproval services limited (June 2021)
See moreaccountant
-
auditor
SAGARS ACCOUNTANTS LTD
address
5 foundation park, roxborough way, maidenhead, SL6 3UD
Bank
BARCLAYS BANK PLC
Legal Advisor
-
fortrea development limited Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 5 charges/mortgages relating to fortrea development limited. Currently there are 2 open charges and 3 have been satisfied in the past.
fortrea development limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
Click to start generating capital raising & share issue transactions for FORTREA DEVELOPMENT LIMITED. This can take several minutes, an email will notify you when this has completed.
fortrea development limited Companies House Filings - See Documents
| date | description | view/download |
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