Osbourne kicks off growth strategy with new recruits

Osborne has created more than 100 new jobs, taking its workforce to 1,000-plus, on the back of an increase in turnover.

Chief executive Andrew Osborne said: "In any construction company looking to grow, it's a case of you having to employ 200 new people, because by the time they are recruited, 100 of your existing people will have left.

"Most people like working for Osborne, so we don't have that pressure. Even so, it's been a lot of work to get staff numbers up. Mostly we use agencies. They have a lot of power."

Osborne's latest financial results to March show turnover running to £230m (£220m). With an increased pre-tax profit of £3.6m (£3m), the latest result represents a margin of 1.5%.

"It's been a mixed year," said Osborne. "The first half was disrupted by the general election. Some 76% of our workload is in the public sector. We found that orders dipped and took time to recover."

Osborne's operating divisions are affordable housing, property services, rail, health, highways and commercial building. Offices are in the South of England, from Chichester to London.

During the current year, turnover is expected to jump to between £260m and £270m.

Areas of growth at the moment are affordable housing, rail, commercial building and education. Against this are dips in the highways and health sectors.

During the period, Osborne won its first two PFI projects. Four care homes in Croydon have a build value of £40m, while the second PFI project, involving both new build and refurbishment of care homes for young people in Hertfordshire, will add a further £20m.

"We want an equity stake and will be investing in both later," said Osborne.