Social housing and maintenance specialist will move from AIM at end of month after period of rapid growth

Social housing and maintenance specialist Connaught is moving to the FTSE after eight years on AIM as it announces a new finance director and two new contract wins.

Connaught plans to move to the official list after the publication of its annual results on 31 August. The group has grown rapidly since it listed on AIM in 1998 with turnover increase from 拢55m in 1999 to 拢240m in 2005.

Connaught鈥檚 focus on social housing means it has benefited from the increased investment in public sector housing and is well positioned for the continuing growth in this area.

Connaught also announced that it has appointed Stephen Hill as its new finance director. Hill joins from Serco where he was European finance director since 2002. Prior to Serco he was European finance director at Black & Decker. Current finance director David Wells remains at Connaught as deputy finance director and company secretary.

Meanwhile, the housing support services group has won two new contracts worth at least 拢45m taking its total orders for the year to over 拢500m. They include a 拢25m planned maintenance project with arms length management organisation (ALMO) Ashfield Homes and a 拢20m five year decent homes project with ALMO Ealing Homes.

Topics