Cyril Sweett reports £4.5m pre-tax profit

Cyril Sweett, the cost consultancy and project management group, has reported a pre-tax profit of £4.5m (figure in the previous year: £4.2m)

The group has 650 employees. They will share in £2m – representing 31% of the latest profit figure - thanks to a combination of the group’s profit sharing policy and discretionary bonuses.

Turnover (12 months to 31 March 2007) was 16% higher at £52m and the average turnover per employee ran to £83,000.

Sweett has a network of 17 offices in the UK, France, Ireland and Spain. It also has a joint venture company in the Middle East as well as co-operation partners in central and eastern Europe.

It now has two PPP equity investments in the UK.

The three largest categories of shareholders are: employees (with 43% of the total shares); the board of directors (24%) and the Share Incentive Plan (involving 480 employees - 23%).

Shareholders have enjoyed a total dividend, over the past 12 months, of £1.4m.