Tuesday, October 13, 2009

Connaught pre-tax profit up 38%

Social housing contractor Connaught has boosted pre-tax profit 38% rise and is still confident it can grow further.

Pre-tax profit hit ВЈ42.5m for the year to 31 August 2009, up from ВЈ30.7m in the previous year.

Meanwhile revenue climbed 19% to ВЈ660m. Its orderbook was also up slightly to ВЈ2.8bn, compared to ВЈ2.6bn in the previous year.

The group said it was "well positioned in attractive markets which are large and defensive."

Chairman Mark Tincknell said: “The majority of our services are either non discretionary or essential in nature and we are therefore much less susceptible to changes in government spending and the economic cycle.”

Hochtief pre-tax profit falls 11%GM to increase output at factories in Michigan, Indiana, Kansas