Social housing partnerships boost Connaught's turnover

Connaught has announced an interim turnover of £77m (£54m) in the six months to the end of February, while the property services provider's forward orderbook has virtually tripled.

Chairman Tim Ross said: "The £610m orderbook, up from £220m a year ago, reflects the success we have achieved in winning long-term business based on partnership arrangements within the social housing market.

"At the same time GasForce, the commercial gas servicing business that we purchased in August 2002 for £22m, is on track to meet our expectations of a substantial increase in profits.

"Turnover for this year is largely secured and the orderbook for 2003/04 already stands at £150m. With partnering in its infancy, the prospects within the social housing market are significant for Connaught. The development of our infrastructure in anticipation of growth will enable us to enhance margins."

GasForce, which has appointed Nick Bravery managing director, has recently been awarded a £4m five-year contract for South Somerset Homes to service and maintain 7,500 gas appliances. Cross-selling opportunities, a result of acquiring GasForce, have generated new business with Hilton Hotels, HSBC and Land Securities.

Connaught's partnering orders have increased from £150m to £400m. Two new contracts with local councils have been struck by the group's Livingspace subsidiary in Hounslow, worth £27m, and in Hackney, a deal worth £20m, has been signed.