Consultant hopes to move into the black by doubling turnover in the next year.
Multidisciplinary consultant Citex aims to increase turnover by more than half to £92m in the next 12 months, said chief executive Oliver Jones.

Jones claimed that much of this increased work would come from the corporate outsourcing sector, and that this would help the firm to move out of the red.

Citex's latest results, for the year to 30 April, show turnover rising 40% to £55m. It made a pre-tax loss of £702,000 for the period, compared with a £4.1m loss for the previous year.

Jones said the group's underlying finances were sound. He said: "There have been quite a few black holes in the business. We improved by £3m on the bottom line in the last year, which is not bad progress."

Citex was formed in 1998 after a management buyout of listed quantity surveyor Bucknall Group. Jones said that it had taken twice as long as he had thought to restructure the group, but that the economic climate was now in its favour.

Jones' plan is to offers clients corporate outsourcing services in the areas of management, IT and cleaning. He noted: "Corporate outsourcing of all services is top of the agenda right now."

The bottom line improved £3m in the past year

Oliver Jones, Citex

He claimed that he was putting together a good team and said the growth in turnover was reflected in staff numbers, which have jumped 40% in the past two years to 900.

Some industry watchers have expressed concern over a number of high-profile departures from Citex. Jones said of these that executives had left because of the change in the firm's direction or because they had been made excellent offers.

Stephen Lee left to join developer Brixton in February and Stuart Black, who was at Citex and Bucknall Austin for 15 years, joined Mouchel last month.

Lee became Brixton's head of customer services management and Black joined Mouchel as group business development director.

Black said of his move: "The job is a terrific opportunity. It's an exciting time to come to this organisation."