Inspace profits grow over a third

Willmott Dixon’s demerged housing arm Inspace has reported a profit rise of over a third in its full year results.

Inspace’s pre-tax profit rose 34% to £10.52m for the year ended 31 December 2006, excluding goodwill amortisation and exceptional items associated with its acquisition of Widacre last August. Turnover rose 19% to £175.1m, up from £147.5m in 2005.

Colin Enticknap, executive chairman, said: “We have delivered higher growth than expected, and now have a business that is double our size just twelve months ago. We have a better structure and weighting to our business, with a much stronger and broader presence in the robust social housing market.”