CONSTRUCTION and support services group John Mowlem has thanked an overhaul of its business for a spark in full-year profits.
Mowlem, which has a regional base on Teesside, has restructured in recent years in an effort to boost earnings from its support services division.
Key acquisitions have also improved the ability to offer a more integrated service to customers and helped deliver enhanced profits.
Overall, group turnover for the year to December 31 rose from £1.51bn to £1.7bn, while operating profits rose from £24m to £29.6m.
Bottom-line pre-tax profits, which last year were hit by one-off charges, rose from £17.1m to £29.5m.
Mowlem North-East, part of the group's building division, enjoyed a record 2001, and has a healthy order book for the current year.
Work is ongoing on the £160m redevelopment of the South Tees Acute Hospitals NHS Trust, a joint venture between Mowlem and Crown House Engineering which will bring South Tees Acute Hospital, Middlesbrough General and North Riding Infirmary together on one site.
Mowlem boosted its support services arm last year through the £42.7m purchase of Pall Mall Holdings, a cleaning, security and hotel services company.
The group said it was satisfied with Pall Mall's integration so far, adding that it was meeting initial performance expectations.
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