Turnover continues to build

TURNOVER for Huntingdon-based house-builder and business park developer Artisan (UK) plc soared to ­£41million in the 15 months to June 30, according to preliminary results. The company, which this year moved its year-end from March 31, had sales of £28.7

TURNOVER for Huntingdon-based house-builder and business park developer Artisan (UK) plc soared to ­£41million in the 15 months to June 30, according to preliminary results.

The company, which this year moved its year-end from March 31, had sales of £28.7million in 2005/06.

Operating profit remained steady at £3.7million, largely because of pressure on margins in house-building, but business park development performed strongly with record results. Artisan Developments (UK) Limited, the business park subsidiary contributed sales of £15.6million, compared with ­£9.7million in 2006, and operating profit of £2.4million (£1.6million in 2006).

Artisan's property investment arm, established earlier this year to retain let business park properties, contributed to the results for the first time.

Chairman Michael Stevens said he was cautiously optimistic for the coming year.

Chief executive Chris Musselle, said: "The 15 months to June 30 have shown that the combination of residential and commercial operations has successfully balance profitability in the face of challenging residential market conditions."

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The company plans to move in December into offices it is building at Vantage Park off the A141 in Huntingdon.