Leadbitter enjoys 9% profit rise and 22% boost in turnover

Turnover at the contractor, which covers the south of England, the Midlands and south Wales, rose 22% from £264m to £323m.

Bob Rendell, its chief executive, said: “Although the next few years will be extremely challenging for the construction industry, I am confident that our experience across a wide range of sectors, both public and private, our presence on key frameworks and our reputation will ensure our continued success.”

The company, which operates largely in the social housing, education and leisure sectors, predicted that its 2009 results will be similar to last year.

It ended the year with net cash of £33m and pointed to a string of recent wins that included phase three of Oxford Brookes university’s expansion of its Marston Road site and a job at Archbishop McGrath Catholic school in south Wales.

Its Denne Construction arm also picked up two Kent schools PFI jobs worth about £25m following the collapse of Verry Construction in April.

According to a report by Verry administrator BDO Stoy Hayward, Leadbitter paid £100,000 to take over Verry’s Oaklands college project in St Albans in May. Former Verry chairman John Gibson is now working for Leadbitter in a senior consultancy role.