Renew, the contractor formerly known as Montpellier, reported a 55% jump in pre-tax profit to 拢7.2m after growth in its specialist engineering and building divisions.

Brian May, Renew鈥檚 chief executive, said it planned to increase turnover from 拢347m to 拢500m in the next three years.

Renew, which employs 800 people, specialises in the construction of social housing in the South-east and retail work across Britain. It is keen to expand its specialist engineering division. Profit at this division jumped 20%, while the specialist building division rose 42%.

May said: 鈥淲e鈥檙e looking for further acquisitions but are only interested in engineers.鈥�

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