Curzon Holdings, owner of fit-out firm Jarvis Newman, has posted results ahead of expectations for its first year in operation.

It reported a pre-tax profit of £1.3m on turnover of £40m for the year to 31 July.

Curzon was set up by chief executive David Freeborn when he led the buyout of Jarvis Newman from Jarvis last year.

He said it had been "a first year of trading which was successful not only in exceeding original objectives but by significantly broadening Jarvis Newman's client base".

He added that the firm had won repeat business from clients such as Six Continents (formerly Bass), Pret a Manger and Marks & Spencer.

This year, Curzon bought facilities management company TCL Granby, which is expected to add £16m to turnover.