Havelock Europe, the Fife-based educational and retail interiors specialist, has recorded an 80% hike in interim profits.
Pre-tax earnings in the six months to June 30 were around £1.4m, with the sale in February of its 49% stake in a Middle East retail and hotel interiors business adding £935,000 to the profit figure. Overall turnover increased by 22% to £42.2m.
The company has also revealed plans to invest £400,000 over the next year to accommodate an anticipated rise in demand from the PFI-funded school building sector. “The scale of the market in educational furniture is very considerable and is likely to provide further opportunities for substantial growth, particularly beyond 2004,” said the company.
