Manchester housing contractor announces plans to double turnover in five years as it reveals 12-month profit of 拢1.6m

Manchester-based residential contractor Ocon has posted its first healthy profit three years after being founded.

In the 12 months ended 30 September 2007, it made 拢1.6m (2006: 拢306,458) on turnover of 拢95.7m (拢98.1m).

The group said the result was thanks to its 鈥減rudent policy of only taking profit when contracts are 75% complete鈥�.

Managing director Clive Williamson told 好色先生TV this week he plans to more than double turnover in the next five years to 拢195m as it pushes into new areas like hotels and educational facilities.

An average of 150 people were employed by the company over the period and staff costs were 拢6.4m 鈥� representing an average annual pay of 拢42,790.

Directors鈥� pay was 拢196,842 鈥� which was spread among three directors for most of the year. Williamson arrived in August and operations director Colin Veitch joined in September.

Ocon is part of property group Opal, which is owned by Ocon founder and chairman Stuart Wall. Williamson said it plans to reduce the level of work it gets from Opal from 60% to 40%.

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