Turnover rises 23% to £140m at John Doyle

John Doyle Group has enjoyed a 23% rise in turnover to £140m: a policy of not chasing turnover created a profit margin of 3.3%.

Chairman Stef Stefanou, said: "2003 was a tough year in which we stuck with our principles of not chasing work.

"Thankfully, 2004 saw our volume return, with prospects for 2005 favourable.

"Our expansion of regional operations has countered a somewhat thinner market in the South East over the past 18 months, but we look forward to improvement as the Olympic effect takes hold."

The latest pre-tax profit (12 months to 31 December 2004) was £4.5m. The group has four operating divisions; the two highest contributions came from John Doyle Construction (£2.2m) and Ibex Interiors (£1.9m).