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Harrison shows record profit in its fiftieth year

FINANCE

RESTRUCTURING and greater emphasis on partnering has helped Harrison produce record profits in the Yorkshire-based construction and developer's golden anniversary.

Harrison posted a record pre-tax profit of £2.7 million in 2000 only for 2001 to prove a disappointment with profits off £700,000.

But last year's restructuring led to the firm's most profitable period, with pre-tax profits wheeling up £800,000 to £2.8 million.

Chairman Martyn Harrison said: 'We have spent some years establishing a strength in depth across the whole business.

'Sound financial management under the new group structure and a renewed commitment to quality at every level have also been factors in our sustained success.'

Harrison does not break out figures for its construction division but profits rose on lower turnover with cash coming in from a £35 million revamp of Workington town centre.

Group turnover rose £6.7 million to £31 million and the firm had £6 million in cash at the yearend, which will be invested in development work.