THE facilities management group Connaught is seeking a full listing, having grown nearly three-fold in the five years since it joined the alternative investment market.
The group first announced that it aimed to apply for a listing on the stock exchange in 2000 when the value of the company had grown.

Finance director David Pike said this week: "We will move up, it's a question of when."

Chief executive Mark Tincknell added: "Our market cap is about £50m – we need to get it closer to £100m before we do. There is certainly a credibility factor in moving up the market."

We will move up, it’s a question of when

Finance director David Pike

The group said it had an excellent order book of £460m for 2003/08, mainly partnering work in the social housing sector. Turnover grew by £10m to £108.3m for the year to 31 August 2002 and pre-tax profit rose 22% to £3.3m.

Tincknell said the firm was divided into two divisions – Livingspace, which concentrates on social housing and regeneration work, and Workspace, which operates in the fit-out and commercial facilities management. The split in turnover will be 70%-30%.