Contractor's profits rocket to 拢9.4m as chairman John Woodcock announces he will step down after 40 years at firm

Regional contractor Pochin today posted a 51% rise pre-tax profits while chairman John Woodcock announced he would be stepping down after 40 years with the firm.

Pre-tax profits soared to 拢9.4m for the 12 months to 31 May 2006 compared to last year's 拢6.2m. This was on a turnover of 拢124.29m, up 42% from last year.

Woodcock said the property division put in a strong performance but profits were down in the contracting arm. No figures were provided.

Woodcock also announced that he would step down from the role of chairman at the end of the end and would be replaced by non-executive director Richard Fildes who joined the board on 7 August 2006.

Other changes to the board include William Underwood, non-executive director, who will retire at the company鈥檚 annual general meeting in November.