Another set of strong results
April 21st 2009
Connaught, a market leading provider of integrated services to both the public and private sector in the UK, today announces its interim results for the six months to 28 February 2009.
The Group has delivered another set of strong results, with excellent revenue and profit growth in both Social Housing and Compliance businesses. Revenue has increased 19% to £304m, driven by a strong organic growth of 17% and operating profit rose 28% to £20.2m.
Connaught’s Social Housing business provides integrated property and estate maintenance services to Local Authorities, Arms Length Management Organisations and Registered Social Landlords throughout the UK. The results for the six months reflect the underlying resilience of the social housing market and Connaught’s position as market leader.
Connaught’s Compliance business is the leading provider of safety, health and risk management solutions. The business supplies a range of services unique to the UK market combining both advisory and servicing capabilities to provide a fully integrated solution for customers. Compliance has had a very good start to the year, with strong organic growth and margin progression, reflecting the underlying strength of the compliance market and the benefits of Connaught’s multi-service and integrated approach.
Mark Tincknell, Connaught’s Chairman said: “Connaught is well positioned in two highly defensive and fragmented markets where we have built a strong competitive position from which to grow share through our integrated services and efficiency-led approach. We have a well established brand and experienced management team and are well placed to deliver high quality earnings growth over the long term.”
Find out more by viewing our full interim results.