Pearce Group building for a bright future

Bristol-based contractor Pearce Group has reported a welcome return to profit for the year ending 30 April 2006.

Bristol-based contractor Pearce Group has reported a welcome return to profit for the year ending 30 April 2006.

The company's Reports and Accounts, which were published this week, show that it achieved pre-tax profits of £561,000 on turnover of £120.9 million.

These results follow a period of restructuring for the business in which the company's new Chief Executive, Colin Forrest, has re-focussed the business on its core strengths of providing construction services in the South West and South Wales and to its strategic retail customers across the UK.

Commenting on the company's performance, Colin Forrest said: "I am delighted to be reporting a return to profit for the year.

In September 2005 we completed a detailed strategic review, which culminated in a new business structure and strategy designed to meet the needs of our key markets.

At this stage, we are currently performing slightly ahead of our budget for the current year, which is based on sustainable re-growth and further improved profitability.

"These results reflect not only on the early success of our strategy, but also on the dedication and commitment of everyone involved in the business - both our employees and those companies with whom we work closely.

This is a great foundation on which we will build the future success of Pearce".

The results come on the back of a number of significant contract wins for the company in each of its key industrial, education and retail market sectors, as well as in its new and renewed housing, leisure and commercial sectors.

Pearce has secured new projects and frameworks with new customers including Marks and Spencer, Sainsbury's and the Sovereign Development Consortium, together with further work for existing customers such as Tesco, The Gerber Juice Company, Swindon College and Bristol City Council.

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