First results as public listed company sees interim profit rise to £2.52m

Construction and property consultant Cyril Sweett has reported a 23% pre-tax profit rise in its first set of results since floating as a publicly listed company earlier this year.

Sir Francis Ives
Ives: "Opportunities overseas"

The group said pre-tax profit stood at £2.52m in the six months to September, up from £2.04m for the same period last year. Revenue also rose 23% to £29.3m.

It said performance was ahead of last year and in line with expectations and the outlook ahead was good.

Chairman Francis Ives said: “Our markets are strong, we continue to maintain our margins and we see significant opportunities to extend our activities into new markets overseas.

“Current trading is strong and given our clear growth strategy, our values and strong opportunities in our markets, the Board is confident of the outcome for the full year and beyond.”

He also welcomed Nick Woollacott to the board as a non-executive director.

Cyril Sweett became the first QS to be listed on the alternative investment market in October.