Cyril Sweett is planning to expand into south-east Asia after its £5m acquisition of Burn Bridge Holdings in April.
Burn Bridge operates in Australia and Abu Dhabi, but its Singapore office is seen as a potential springboard into Japan, Hong Kong and Vietnam.
Speaking after announcing strong results for the year ended 31 March 2008, Dean Webster, chief executive, said: “Singapore will be our south-east Asian headquarters and we’ll grow from there into a global business.” The expansion will include India and “one or two more Emirates” following its work in Dubai and Abu Dhabi.
Over the year, Cyril Sweett, which floated last October, increased pre-tax profit 28% from £4.6m to £5.9m and turnover 20% from £52.1m to £62.7m.
Mike Kemsley, finance director, said the group still had £15-20m for acquisitions but deals had been hampered by unrealistic valuations.
No comments yet