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Sapcote plans return to black

FINANCE

TURNOVER should leap a third this year at William Sapcote as the contractor's foray into development work brings a return to the black.

Midlands-based Sapcote saw pre-tax profits fall from £15,750 to a loss of £139,999 last year.

Chairman Richard Sapcote, the sixth generation of his family to run the business, said: 'We have had two or three jobs that didn't give us the return we expected.

'We have been embarking on a lot of development work and we didn't have the returns this year to support that level of investment.

'In contracting, the market has been tighter this year but we've got our heritage work and three developments coming through now.' The company's turnover rose £3.7 million to £27.3 million in 2005.

Workload should reach about £35 million this year with a recently-won £3 million job to refurbish a theatre in Redditch providing a boost.

Sapcote expects to sell a development in Stourbridge in the next week or so and is also building 38 flats in Birmingham and 12 in Evesham.