好色先生TV

Essex contractor Lakehouse has posted a 21% rise in turnover from 拢42.2m to 拢51.1m for the year to 30 September 2008.

Despite the rise, the public sector company recorded a 17% drop in pre-tax profit from 拢1.1m to 拢914,178 as result of a restructure.

The statement said it had incurred fees of 拢400,000 in relation to the process in addition to increased overhead costs associated with the move.

It said: 鈥淭he company continues to focus on providing a high quality service to the public sector and this had protected the business from the worsening economic climate. Our strategy has been to build long-term relationships with local authorities by demonstrating our ability to complete projects on time and to a high standard.鈥�

But it warned that increased competition as a result of the recession may squeeze its margins. 鈥淭he company continues to work closely with key clients and monitors feedback from tenders submitted,鈥� it said.

It ended the year with net cash of 拢2.7m and the salary of the highest-paid director fell slightly from 拢203,422 to 拢198,882.

Last month chairman Stuart Black told 好色先生TV that the company planned to hit 拢200m turnover in three years.