Groundforce Increases Turnover

Groundforce helped VP achieve a 42% growth in pre-tax profits to £7.8 million in the six months to September 30th with turnover increasing 13% on last year.

The growth in turnover comes despite continued delays in the implementation of the AMP 4 water industry investment programme, a key area for the specialist hire provider.

2008 has seen significant investment across the Groundforce business with capital expenditure focusing on a number of new products to further enhance the existing product portfolio.

In order to maintain it’s strong market standing a number of operational improvements have also been implemented including a new, larger facility in the North-West and an expansion of the Hire-Desk network.

Sales and Marketing Director Simon Littlewood comments: “The recent interim results demonstrate further success for the group within it’s chosen markets. Groundforce has seen positive growth within it’s piling, surveying and recently formed formwork businesses although the core shoring element remained relatively static. The development of the water industry’s AMP 4 programme into 2007 remains a key driver to further growth.”