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Leadbitter prefab bid

FINANCE

OXFORD-based contractor Leadbitter's attempt to put together a supply chain to build social housing is taking longer than expected.

Leadbitter, which made a £1.9 million pre-tax profit on £57 million turnover in the first half of this year, wants to bring in methods used by Dutch parent Heijmans.

Managing director Bob Rendell said: 'We took seven housing associations out to Holland to look at prefab and modular construction but we're still in the process of putting the supply chain together.'

Leadbitter opened a fifth regional office in Cardiff earlier this year and expects to turn in a full-year pre-tax profit of £4 million on £120 million turnover.This compares with a £2 million profit on £88.1 million turnover in 2002.Heijmans pushed half-year profits up £7 million to £35 million on turnover of £815 million - up from £788 million in 2003.