Inspace, Willmott Dixon鈥檚 demerged housing arm, has said it is committed to further growth after reporting a profit rise of more than a third in its full-year results.
Pre-tax profit rose 34% to 拢10.5m for the year ended 31 December 2006, excluding goodwill amortisation associated with the acquisition of Widacre, Willmott Dixon鈥檚 social housing arm.
Turnover at the company, which is listed on the alternative investment market, was 拢175m, 19% higher than the 拢148m it made in 2005. The company鈥檚 results were slightly ahead of market expectations.
Colin Enticknap, Inspace鈥檚 executive chairman, said after the results had been announced that the business had achieved a desired balance between its social and affordable housing and corporate assets businesses, and was now looking to grow all three at the same rate.
He said: 鈥淭he coming year will be another busy one. We will look out for acquisitions, but haven鈥檛 factored these into our plans, which we believe can be delivered organically.鈥�
The company鈥檚 broker, Seymour Pierce, has predicted an interim turnover of 拢115m and pre-tax profit of 拢5m, which will be 35% to 40% of the full-year estimate.
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