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Shepherd's profits climb

Shepherd Group made a pre-tax profit of £31.5 million in the year to July 2011, almost doubling the total for the previous year.

The group saw a 16 per cent increase in turnover to £611m, up from £526.7m in the previous year. Efficiency measures also contributed to the profit increase, the group said.

Shepherd Construction recorded an increase in turnover to £251.3m compared with £185.2m in 2010 and achieved the highest level of operating profit in its history of £4m compared with a loss of £2.1m in 2010.

Group chairman, Alan Fletcher, said: “The quality of the management teams, the excellence of the product offerings, the swift action taken to improve efficiencies and sound cash management have combined to drive improved profit performance.

“These are encouraging results which provide firm evidence of the groups resilience in the face of challenging markets and demonstrate its ability to continue to withstand the current market pressures. ”

“While the continuing general economic uncertainty points to a need for caution in the short to medium term, the considerable improvement in the Group’s profitability and its sound financial performance give confidence in the underlying strength and future potential of the business,” he said.

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