High-rise boom boosts Lakesmere

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Lakesmere Group has reported record financial results, with huge rises in both turnover and profit.

Group turnover for the period ending January 31 2015 increased 11% to £95.6 million while profits before tax rose by 23% to £2.44 million.

Lakesmere confirmed it expects turnover to exceed £100 million this year and circa £130 million in 2017.

The group has been boosted by its work in the major glass facade market, demand for which been fuelled by the recent high-rise building boom in many UK cities .

Chief executive Mark Davey said, “The Lakesmere Group has had another good trading year. We recorded our highest ever level of income, took further actions to expand our presence overseas and continued to invest in our manufacturing and infrastructure support systems to manage growth in all areas of the business.

“We continue to adopt a prudent approach to our work and we continue to maintain strong cash reserves to sustain the business and fund investment for growth. This strategy has seen positive returns across the business and expansion into new markets at home and overseas.”

Lakesmere is also expanding its international operations with contracts secured across the Middle East and Asia.