Mark Davies, the chief executive of property services provider Connaught, said the company will continue to grow its asset management business, following a 37% rise in pre-tax profit.
Pre-tax profit rose to 拢8.1m in the six months to 28 February 2007, compared with 拢5.9m in the same period the previous year. Turnover rose 24% to 拢165m. It also reported an order book of more than 拢2bn.
The company acquired two asset management businesses, Baldwins and AE Williams, during the period.
Davies said: 鈥淲e will continue to build up asset management as our first priority as we move towards a post-Decent Homes era. Our main approach will be through organic growth, although we may consider small bolt-on acquisitions in social housing.鈥�
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