HAVELOCK EUROPA, which specialises in education and retail interiors as well as point-of-sale display, today said it expected to see further growth over the next few years.

The group, based in Dalgety Bay, said both organic and acquisition growth were expected to boost the firm over the rest of 2006 to beyond the following year.

As the company announced a 116 per cent rise in half-year pre-tax profit to £462,000 on sales up five per cent to £42.1 million, chief executive Hew Balfour said: “The board remains optimistic about the opportunities in the group’s chosen markets. Further progress is expected in the full year with additional growth in 2007 and beyond, both organically and, where appropriate, through acquisition.”

Sales at ESA McIntosh, Havelock’s education furniture and supplies arm, which is involved in 16 school PFI projects, rose 21 per cent to £13.6m over the traditionally quieter first half with business remaining “particularly buoyant”.

“Whilst the start of the ‘Building Schools for the Future’ (BSF) programme in England has been delayed, with only a small amount of revenue likely to be available during 2007, the volume of work under Phase II of the PFI programme for Scotland continues to rise and prospects for 2007 are encouraging,” noted Mr Balfour.

Point-of-sales revenues were broadly flat at £11.6m, and at its retail interiors wing, activity remained strong, although sales dipped to £16.9m, from £17.3m.

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