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Rydon hits £200m

FINANCE

TURNOVER is set to rise above £200 million at contractor and house builder Rydon.

The Sussex-based group, which turned over £130 million in the year to March 2005, has just been bought by its management.

Group chief executive Bob Bond said: 'We're looking for pretty moderate growth of about 15 per cent a year with profits at 5 per cent.' Rydon builds between 200 and 300 homes a year at an average pr ice of about £350,000.

Contracting provides most of the turnover, with £115 million-worth of work in 2006. In 2005 this division grew turnover £14.6 million to £71.4 million, with pre-tax profits hitting £1.7 million from £626,755 last time.