Cyril Sweett look for acquisitions E-mail
Thursday, 29 November 2007

Quantity surveyor and project manager Cyril Sweett has seen profits rise by 23 per cent in the first half, and announced it will be looking for new acquisitions.

The company announced turnover of £29.3m (£23.8m) and pretax profits of £2.52m (£2.04m)in its first set of interim results following its aim floatation. The board also said it was confident of the outlook for the full year.

The group order book increased to a healthy £67m, with over 70% of new orders coming from our existing frameworks and repeat customers.

Chairman Francis Ives said: "Our markets are strong, we continue to maintain our margins and we see significant opportunities to extend our activities into new markets overseas. The proceeds from the placing will not only support organic growth but will also give us significant opportunity to extend our growth in the UK and overseas through acquisitions."

The company also announced that Nick Woollacott had joined the board as a non-executive director.

 

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