Luxury contractor Holloway White Allom has said its wealthy clients have slowed spending on large refurbishment projects

Although turnover rose 24% last year from 拢65.3m to 拢80.5m, Bob Cole, its chief executive, said sales would be broadly flat this year. Pre-tax profit fell 20% to 拢4m as a result of extra costs from growing the business. The firm ended the year with 拢4.6m in cash, compared with 拢5.7m in 2007, and the highest-paid director鈥檚 salary fell 22% from 拢252,129 to 拢195,646.

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