Consultant Schofield Lothian's pre-tax profit for the year to 30 April 2001 rose 272% on the same period the previous year to £409,583.
In the firm's annual report, chairman Philip Crow said the decision to scale down its fee-earning IT consultancy division and invest in other sectors of the business had contributed to a strong second half-year.

Schofield Lothian, based in Hertfordshire, also established consultancy divisions in building regulation approval, town planning and environmental services during 2000/1, as well as securing project management for Cirque du Soleil at Battersea Power Station.

Turnover increased to more than £11m, an increase of more than £360,000 on 1999/2000, the 14th year of growth.

The rise was partially driven by work in the Far Eastern and European markets.

Turnover in the Far East rose 21.5% to £1m and the figure for Europe went up 32% to £900,000.

Schofield Lothian warned that a prolonged recession was the biggest threat to its business, and could be harmful as the company continues to expand.