Midas Group 40th in Fast Track Profit poll

Midas Group chief executive Steve Hindley is delighted that his group's financial performance won it a place in the top half of the Sunday Times' Fast Track Profit 100.

The annual league table ranks the UK's 100 privately owned companies with the fastest growing profits.

Midas came 40th thanks to a two-thirds boost to pre-tax profits in the 12 months to 30 April 2003. Not only did Midas hit a figure of £4.2m on a turnover of £140m, but it achieved its goal of a 3% margin.

Housebuilders apart, the only other construction groups to be listed were Laing O'Rourke and Story Construction, placing 21st and 80th respectively.

In the past five years, Midas has grown from a £23m-a-year regional contractor into a full services property group.

Now with eight offices across the south west and Wales, Midas anticipates turnover in the current year hitting the £200m mark while the orderbook for the 12 months ahead already stands at £156m.