News on 24 November 2000
AIM listed property services company Connaught reports turnover
up by 42% to over £77m and a 25% rise in pre-tax profit to £2.22m.
Chief Executive Mark Tincknell said Connaught aims to become "the
most respected and exciting integrated property solutions company in the
UK."
The bulk of Connaught's business, some 65% of turnover, is in social housing
but the company is active in the commercial and retail sectors as well
as education and car parking.
Following the acquisition of the Profectus Group in July 2000 Connaught
has launched a consulting division to underpin its 'integrated solutions
strategy'. "We have made the transition from a service provider to
a solutions-led business, adding infrastructure management and consultancy
to our range of services. The combination of strategic consultancy, management
and service delivery enables us to offer a truly integrated service,"
said Tincknell, "This approach provides our clients with value they
cannot easily obtain elsewhere and will enable us to achieve our long-term
goals."
Another significant development has been the appointment of Andrew Manning,
formerly General Manager, Advanced Customer Solutions at Honeywell Ltd,
as Managing Director of Connaught's Facility Services Division.
Following the integration of the cleaning business acquired last year,
the Facility Services Division achieved growth in operating profits of
over 70% during the year on a turnover of approximately £17m. The
FM contract for Prudential's Green Park Business Centre, which is anticipated
to become Europe's biggest business park, has expanded to include cleaning,
security, landscaping, catering, reception and post room services.
The Division offers a range of services including mechanical and electrical maintenance, cleaning, specialist building services and infrastructure management. Connaught uses 'infrastructure management' as a broad term to describe network, facilities and project management.
