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Bethell restructure starts to bear fruit

Infrastructure company Bethell posted a modest increase in revenue last year as it starts to reap the benefits of a restructuring programme, latest accounts show.

The group booked turnover of £54.2 million in the 12 months to September 2007 – up from £52.2 million a year earlier.

Though pre-tax profit was modest at £308,000, it was a threefold the profit recorded in 2006.

In a frank assessment of the group’s performance, chairman and chief executive Tim Kilroe said Bethell’s financial position provided a springboard for profit growth.

Mr Kilroe said: “The financial outturn for 2007 was not what I would describe as ‘exciting’ but nevertheless was positive progression from last year.”

Bethell’s lighting division, which specialises in external and street lighting, was the biggest drag on group-wide results, with an operating loss of £394,000, compared with a £299,000 profit in 2006.

Mr Kilroe said substantial costs within the division had been written off last year.

But other divisions turned the corner, with the group’s power services arm posting a £78,000 operating profit, compared with a loss of £517,000 in 2006.

Mr Kilroe said there had been significant changes to management structures across the group and he was confident 2008 would be more successful.

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