Tolent's first half profit improves

Tolent has unveiled a pre-tax profit of £1.9m in the first six months of 2004, ahead of the figure of £1.3m for the same period last year. Turnover ran to £65m, an increase of £9m.

Chairman Stuart Gordon said: “We anticipate a satisfactory second half based upon the forward workload and anticipated margins on work to be completed in the second half.

“Overall we look for improved results in 2004 compared with 2003 and expect to pay a final dividend for the year.”

Margins in the first half of 2004 improved, although Gordon commented: “The timing of the completion of contracts can significantly affect period margins since we do not recognise profit until a contract reaches practical completion.”

Major projects completed in the first half of 2004 included the new headquarters for SAGE on Newcastle Great Park, a waste processing complex for Biffa in Leicester, a leisure club in Cambridge and a recording studio in London.