“It is more than 6 months since I last updated you all as to the progress made within current trading and I am pleased to be able to report that strong progress has been made in the first six months of the financial year.

Sales in the six months reached £13 million and operating profits are significantly ahead of both this time last year and the current budgeted figure. This is expected to continue in the second half of the trading year.

We continue to develop business both within our existing client relationships and with new clients and professionals. The investments made within Business Development 18 months ago are now bearing dividends, both in terms of actual enquiries and opportunities and in raising the business profile within our chosen markets. I also believe we are more in tune with these markets and consequently have a better understanding of them.

Changes in key personnel, with Mark Dawson taking control of Projects and the arrival of Ian Finney in January to head up Housing Regeneration has given us a new impetus in expanding our activities. I am sure that we will be able to look back on these changes as pivotal in the development of both Divisions, giving us the control, clarity and quality we have sought for a while.

The current headcount stands at 5% more than 12 months ago, whilst the level of activity is up some 35%. This improvement in activity goes some way to explaining both our improving profitability and competitiveness. This clearly demonstrates our place in the market and is in no small part due to the efforts of employees upon which our improvements are based. I take this opportunity to thank everyone for their efforts, goodwill and fortitude over the intervening period and ask that you continue with those efforts into the future.

Turning to the future, I believe we are well placed to take advantage of our position in our key markets. Social Housing, Health and Education continue to benefit from high levels of spending and our reputation for high levels of service and quality, coupled with our technical ability leaves us well placed. Continued attention to detail will aid the careful development of the business, its processes and people. Placing the Clients needs at the heart of operations will ensure that we continue to exceed their expectations."