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03/11/2008

Dunne Group Exploring Acquisitions After Reporting Record Results

Dunne Group said it will explore acquisitions to support its continued growth after announcing further record results to the year end October 31, 2008.

The Bathgate-based building contractor and concrete frame specialist delivered a turnover up 66% at £60m and a pre-tax profit up 71% at £2.6m.

Managing Director Gordon Dunne said: "The past financial year has been busy and challenging for us as we expand our client base across geographic and industrial sectors to help insulate us from the effects of the downturn in residential development.

"Our policy of re-investment in new premises and machinery has helped us maintain our position as leader in the field of new building techniques and safe working practices as we continue to submit tenders across the industry.
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"We approach 2009 with a healthy appetite for further growth and are on the lookout for bolt-on acquisitions to enhance our considerable in-house capability."

Headquartered in Bathgate, West Lothian, Dunne Group also operates across regional offices in Leeds and Manchester.

Key contracting projects delivered throughout the financial year include a £2m nursery and after-school facility for the Edinburgh Academy, a new £5.6m bus station in Dunfermline town centre and a £15m multi-storey car park at Silverburn shopping centre in Glasgow.

The group has also delivered concrete, sub-structure and superstructure civil engineering works at the iconic G1 development in Glasgow city centre, the £200m AMA & Grosvenor commercial and residential project in the Fountainbridge area of Edinburgh, the new Scottish Widows Headquarters in Edinburgh as well as a design and build car park in Liverpool as part of the £500m Paradise Street development.

(GK/JM)

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