John Doyle鈥檚 fit-out subsidiary Ibex Interiors has reported a 14% rise in turnover for 2006, up to 拢81m.
Pre-tax profit fell to 拢1.1m from 拢1.35m during the same period, a drop which the company attributed to reorganisation costs following a management buyout at John Doyle last summer. Ibex also reported an order book of 拢55m for 2007.
Rob Johnson, John Doyle鈥檚 chief executive, said: 鈥淭he management buyout and associated changes resulted in some exceptional costs, which are reflected in the Ibex results. The underlying performance of the business is now very strong and the platform will allow us to press ahead with our growth plans.鈥�
Mark Taylor, Ibex managing director, said that 2006, which also saw the expansion of the company鈥檚 Midlands business, had been a year of 鈥減ositive and progressive鈥� change for the company. He said: 鈥淭he prospects for 2007 and beyond are very encouraging.鈥�
Ibex has also announced the appointment of Matthew Battle as business development director. Battle is a former director of Battle Associates. Before that he was responsible for regional interiors businesses at ISG.
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