Lakehouse has reported strong growth in revenue and profit on the back of its strategy to expand its business through acquisitions
Reporting its results for the year to 30 September 2013, Lakehouse posted revenue of 拢191m, up 24% on 拢154m last year, with pre-tax profit rising 48% to 拢7.1m (2012: 拢4.8m).
The results come after the firm, which works across construction, refurbishment, and repairs and maintenance, as well as sustainability and fire and gas compliance, made three key acquisitions in recent years.
In November 2012 the firm acquired specialist Allied Protection, which followed on from the acquisition of K & T Heating services in October 2011.
Last year Lakehouse made its third acquisition, buying Foster Property Maintenance in October.
Lakehouse said the three acquisitions had extended the range of services the firm can offer its clients.
The firm said its ongoing strategy was to 鈥渁chieve turnover and profit growth by increasing the proportion of the Group鈥檚 business from higher margin work streams and compliance services鈥�.
The firm said: 鈥淲e plan to achieve this through a combination of organic growth and through complementary acquisitions that will either widen the Group鈥檚 offer or provide an opportunity to achieve a wider geographical area of the Group鈥檚 activities.
鈥淎nother key part of our strategy is to increase the proportion of the Group鈥檚 business that is derived from long term contracts and framework agreements that provide a more stable and predictable income stream.鈥�
Stuart Black, Lakehouse executive chairman (pictured), said: 鈥淚n current market conditions, to again report increased turnover, increased profit and very low debt levels despite our ambitious acquisition strategy, demonstrates the strength and consistency of our business鈥� performance.
鈥淲e鈥檙e very proud to have been a positive story for the construction industry through a tumultuous period and to remain a reliable and committed partner for our clients and the communities they serve.鈥�
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