Wrekin managing director John Evans, who carried out a restructuring after taking over in June 2001, said: "We restructured the cost base of the business. The subsequent success of the company is vindication of that move."
Evans said that the firm's design-and-build business had sidestepped the slowdown in warehousing and manufacturing by obtaining contracts in the retail sector.
Evans said: "There has been big investment in the food industry. We are working for Dairy Crest in Cornwall and in Stranraer for McLelland Foods."
Evans did, however, concede that the firm's investment in rail maintenance training had yet to bear fruit because of the uncertainty in the sector.
Our success is a vindication of the business restructuring
John Evans, Wrekin managing director
He said: "We have trained a big workforce for rail work but the Strategic Rail Authority is holding back on investment."
The company is on the acquisition trail, looking for firms in the £2-5m range.
Wrekin has looked at a shop-fitting firm and a £10m-turnover specialist engineer, but decided against buying.
Wrekin expects its turnover to increase to £115m and pre-tax profit to rise to £2.5m.