Timber-frame manufacturer Eleco is confident it will ride out the current financial downturn after posting a 36% rise in turnover for the six months to 31 December 2007.

The figure increased from 拢28.9m to 拢39.4m, while pre-tax profit rose 48% to 拢3.7m.

John Ketteley, Eleco鈥檚 executive chairman, said: 鈥淭he current turmoil in financial markets suggests that we might well expect to encounter more testing market conditions. However, we are in a strong financial position and entered the second half with improved order books.鈥�

In November last year Eleco bought precast concrete business Milbury Systems for 拢7m, which helped boost the turnover contribution from its building systems division by a third to 拢33.2m. Operating profit increased by 22% to 拢3.36m from 拢2.75m.

Ketteley added: 鈥淚ncreased demand for Bell & Webster鈥檚 pre-cast concrete products and improved performances from our building components operations and software interests, more than compensated for the lower outturn of our connector plate businesses.鈥�

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