Utilities contractor Barhale nearly doubled pre-tax profits last year to just under £4 million.
The Walsall-based contractor said success in water framework contracts jacked up profits by close to 90 per cent.
The firm works for a number of water companies including Thames Water, Anglian Water and Severn Trent Water. In a statement accompanying its results, it added: “The group’s strategy is to continue working successfully with the core long term water industry framework contracts.”
Revenues jumped by nearly one third to £147 million in the year to December 2007 and the company said contracts starting this year include working on the site of the 2012 Olympic Games. It is also hoping to extend its telecoms contract with Telent – which installs and operates networks for BT – that runs out next month.
The number of employees at the business stood at 930 – up by 15 per cent – which meant the wage bill topped £30 million. The salary of the highest paid director, who is not named, was up nearly 80 per cent to £334,000.