Purchase of CCL Leisure enables Parkwood to increase profit to £1.4m.
Public sector support group Parkwood Holdings has increased profits to £1.4m in 2004 despite a poor performance in the healthcare division, which recorded a loss of £330,000.
The results were boosted by a strong performance by its leisure division, which was bolstered by the acquisition of CCL Leisure. Parkwood also said that the continued diversification of the green business Glendale had contributed towards profits.
Executive chairman Tony Hewitt said: “With a much better year under our belt, confidence in the group’s future is high. Parkwood continues to invest for the long term, building on the many opportunities it now has to further increase sales and profits.”
Hewitt said the current order book stood at £330m and said that sales of £75m had been secured for 2005. He said that long-term public private partnerships would provide project management and investment income for the future.
Parkwood said that it would increase investment in management to enable it to bid for more projects, and it stated a desire to increase its portfolio of private sector work.
Turnover at the company increased by 34% to £67.7m for the year ended 31 December 2004.