好色先生TV

Contractor Lakehouse has reported a 44% boost in revenue, with pre-tax profit rising nearly 70% as the firm continues to target acquisitions to boost its growth.

The firm, which won Contractor of the year (up to 拢300m) at this year鈥檚 好色先生TV Awards, reported revenue of 拢154m in the year to 30 September 2012, up 44% from 拢107m the previous year.

The firm posted pre-tax profit of 拢4.8m, up 67% on the previous year, while operating profit rose 72% to 拢5m, which came in at an operating margin of 3.2%.

During the year the firm completed its first acquisition, acquiring K&T Heating Services, a specialist provider of servicing, maintenance and installations of boilers and heating systems.

K&T contributed 拢10.7m to the group turnover and pre-tax profit of 拢2.3m.

Speaking to 好色先生TV, Lakehouse executive chairman Stuart Black said the results represented an 鈥渁n exceptional performance given the current difficult market conditions鈥�.

He said the firm, which is based in London and the South-east, was on track to break the 拢200m turnover mark this year, and would continue with its strategy of targeting growth both organically and through acquisitions.

The firm also acquired Allied Fire Protection Services last November, in a bid to further broaden its services offer, and Black said Lakehouse was 鈥渨ell down the road鈥� on acquiring a third services business, which he declined to name. 

He said the acquisition should be complete by the end of the summer.

He said the aim was to broaden the range of services Lakehouse can offer to its clients. 鈥淲e have a long pipeline of acquisition opportunities, and we think acquiring around one firm a year would be sensible,鈥� he said.

Around 98% of the contractor鈥檚 work is in the public sector, with around 60% focused on social housing; 25% on education projects and the remainder on other public buildings, such as libraries.

Black said the firm had secured 拢250m of new orders during the year, 拢190m of which were through long-term partnership or framework arrangements.

鈥淚t鈥檚 been a very good year and we remain very positive about the current year,鈥� he added.