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Tulloch looks to expansion

FINANCE

TULLOCH is looking for acquisitions after raising profits by half in 2004 as the Scottish construction group's housing arm produced its best result since being formed 20 years ago.

The firm has tripled earnings since 2001 and lifted pre-tax profits to £7.6 million from £5.3 million in the previous year.

Chairman David Sutherland said: 'We remain in acquisition mode. Our policy is to have interests across the spectrum of UK markets.'

Tulloch turned over £130 million last year - up £22 million on the previous year - with contracting generating £60 millionworth of work and housing sales £44 million.

Workload at the civil operation was quiet due to a dearth of utility work but the building services division turned over £16 million - up from £5 million on being launched in 2001.