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Eve Group leaps back into profit

EVE GROUP'S electrical engineering and utility contracting divisions have bounced back into the black, doubling overall pre-tax profits to £1.54 million in the six months to September 30.

Tighter financial controls after a big management restructure lay behind the sharp rise in profitability on a turnover slightly lower at £44 million.

Graham Foster, chief executive, said: 'The outlook is now exceedingly good. All divisions are making money and there is a good level of orders.'

Sales at the profitable temporary road surfacing division, Eve Trackway, rose 20 per cent in the UK and doubled in France.

M&E specialist Eve Graham returned to profit on a lower turnover after changing its strategy to concentrate on contracts worth in the region of £5 million to £6 million, about half the size of recent years. It has also reached agreement of final accounts on several old contracts.

Utility contractor Eve Claydon renewed a big term contract with Eastern Electricity and is invest-ing in plant and staff development to support major infrastructure work planned by the electricity company.

Eve Construction is gradually increasing its workload in the Lon-don area, although it warned that margins were still very tight and a strict selective tendering procedure is in place.