Connaught pre-tax profit up 38%

Social housing contractor Connaught has boosted pre-tax profit 38% rise and is still confident it can grow further.

Pre-tax profit hit £42.5m for the year to 31 August 2009, up from £30.7m in the previous year.

Meanwhile revenue climbed 19% to £660m. Its orderbook was also up slightly to £2.8bn, compared to £2.6bn in the previous year.

The group said it was "well positioned in attractive markets which are large and defensive."

Chairman Mark Tincknell said: “The majority of our services are either non discretionary or essential in nature and we are therefore much less susceptible to changes in government spending and the economic cycle.”