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Pre-fab firm's profits up

Eleco, which provides timber, roofing and concrete systems to the construction industry, saw pre-tax profits jump by nearly half in the six months to December.

The AIM-listed company said interim profits went up 48 per cent to £3.7 million on turnover up one third to £39.4 million.

In November the firm bought Milbury Systems, a manufacturer of precast concrete products for the water and waste industries which executive chairman John Ketteley said had strengthened its interests in this area.

He added: “The current turmoil in financial markets suggests that we might well expect to encounter more testing market conditions.

“However, Eleco is in a strong financial position and we entered the second half with improved order books. Milbury Systems will also be contributing to our results for the whole of the second half.”