Engineer's half-year results show soaring turnover following recent series of acquisitions
Mouchel grew by almost 50% in the last year following a run of acquisitions, according to interim results released this morning.
The engineering consultant formerly known as Mouchel Parkman saw turnover leap to 拢308.1m in the six months to 31 January 2008, up from 拢206.4m in the same period a year earlier.
Mouchel bought Hornagold & Hills, Traffic Support and Ewan in November 2006 and followed this with the acquisition of HBS Business Services Group last August.
The company also won its first 黑洞社区 Schools for the Future contract with the London borough of Hackney and secured highways and services contracts with Hertfordshire and Lincolnshire county councils.
However, pre-tax profit dipped slightly as a result of Mouchel's purchase of HBS, down to 拢9.3m in the six months to January 2008 from 拢13.6m in the same period a year earlier. The HBS acquisition meant one-off costs of 拢4.6m had to be taken into account. Underlying operating profit rose to 拢18.2m, up from 拢14.2m in the same period last year.
Richard Cuthbert, chief executive of Mouchel, said: 鈥淭he general market outlook for our services remains good and we continue to be confident about our future prospects.鈥�
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