Cardiff contractor Opco has announced a 256% rise in annual operating profit.
Established two-and-a-half years ago, the company's operating profit was £455,000 in the 12 months to 31 August, up from £177,000 the previous year. Opco's turnover doubled and is forecast to reach £35m this financial year and £40m in 2004/05.

Managing director Nick Kelly, who was previously construction director at Balfour Beatty's southern building division, said: "Our forward order book, coupled with a series of advanced discussions taking place, gives the business enormous confidence in its long term."

Commercial director Peter Jones said: "Our growth to date – by any measure used in the industry – is very encouraging and on the back of this we have been able to provide skilled employment and training for a substantial number of people."

In the past financial year the company has appointed James Coombs operations manager, Neil Armstrong commercial manager and Stuart Epps finance director.

Opco employs more than 70 technical staff and operates in South Wales and the north of England. It has started on site in Swansea for developer Newport Holdings on a mixed-use scheme, which includes a 116-bedroom hotel and a multistorey car park.