Sweett Group upbeat as property market continues to blossom

1st Jul 2014 09:49

- Annual earnings improve amid powerful recovery in UK market- Order book at record levels- Optimistic about future opportunitiesProperty and infrastructure consultancy Sweett Group improved full-year earnings as it gained market share in a recovering market.Profit before tax climbed to £2.8m for the year ended March 31st 2014 from £1.8m before while revenue increased to £89.4m from £80.6m. Basic earnings per share surged 47% during the year.Chief Executive Officer Dean Webster said: "The group has performed strongly driven by a powerful recovery in the UK market, where we have gained market share. "Our order book is at record levels and we are trading well with prospects for turnover and margin improvement being on track. As a provider of independent services with a solid global platform we relish the opportunities ahead of us as we see global economies strengthen."The group has recommended a 30% increase in its dividend payment.Net debt was reduced to £6.3m from £7.1m previously. CJ