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Volker plots more growth

Volker Stevin wants to add another 20 per cent in turnover this year on the back of a jump in revenues in 2007.

The Gateshead contractor, which is owned by Dutch firm Volker Vessels, saw turnover in the year to December jump 37 per cent to £68 million with all three of its regional civil engineering businesses recording improvements.

Pre-tax profits during the period went up from £800,000 to £1.3 million, with margins coming in at just under 2 per cent.

In a statement accompanying its results, the firm said: “The order book for 2008 and beyond is the strongest for many years in both quantity and quality.

“A high proportion of the order book is in cost reimbursable and client risk sharing contracts.”

But the company flagged up potential areas of concern to it meeting its growth plan. It said: “Shortage of skills and difficulty in recruiting high calibre people remains a risk as the business continues to grow. Staff retention is also likely to become more difficult as pressure comes on the construction sector with the 2012 Olympics.”

The number of employees at Volker Stevin last year edged up seven per cent to just under 400. The salary of the highest paid director, who is not named, was up five per cent to £284,000.