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Bucknall FM boost helps increase in interim profits

BUCKNALL Groups growing business in facilities managment and a return to profit of its Birmingham-based overseas arm helped the quoted quantity surveyor increase interim profits to 261,000 for the half ending October (1994:105,000).

Turnover rose 32 per cent to 13 million, and chairman Richard Miles said the firm has seen a good start to the second half with fee income up on last year. But the firm said its gearing, at 160 per cent, was still too high to pay a dividend.

UK profit rose by 56 per cent to 303,000, helped by a strong showing at its London and Birmingham offices. Bucknall has also launched a partnership with a firm supplying timber frame units for social housing.

The overseas business returned to the black with a profit of 56,000, helped by growth in Hong Kong. The firm says its business in Continental Europe is still difficult and it made a first- half loss in Germany.

Shares rose by 1.75p to 36.75p as the firm predicted progress in profits in the second half and a review of the dividend at the year end.