Castleoak predicts £80m annual turnover within five years

Castleoak Care Partnerships, the care-home construction specialist, has enjoyed a rise in pre-tax profit to £1.3m (£800,000).

Turnover (12 months to 31 March 2007) was also a record, running to a figure of £39m (£31m). The strength of the group’s forward orderbook is such that Castleoak envisages a further jump in annual turnover to £80m in the next five years.

Melville Knight, executive chairman, said: “Our strategy of broadening our portfolio has borne fruit. We have enjoyed a healthy project mix.”

The group tackles care homes, extra care apartments and care villages. Contract size ranges from £3m to £28m, in locations running from County Durham in the north to East Sussex in the south.

A new headquarters is being built on the Cardiff Business Park. It should be ready by the end of this year.

Knight said that a new division, Castleoak Care Developments, has been formed. It leases out new care homes after they have been built.