Retail leads private recovery for Cyril Sweett

Grant Prior 11 years ago
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Cyril Sweett reported encouraging signs of a private sector led recovery today as the consultant posted positive results with an increase in both turnover and profit for the year to March 31.

The firm is expanding rapidly in the infrastructure and energy markets which helped  boost pre-tax profit to £2.3m from £2.1m last time on turnover up to £72.8m from £65.6m.

The firm said: “The Group is beginning to see recovery within the UK private sector, most notably in the retail sector where we are receiving appointments on a substantial number of retail schemes and retail park developments with work to be carried out over the next 12-36 months.”

Sweett said work was concentrated in London and the South East and the firm has secured a string of framework deals including work for BAA, hospitals, local government agencies and 20 universities.

The firm will be rebranded over the next year to drop the Cyril name to become just Sweett.

Chairman Michael Henderson said: “In the UK and Ireland we have invested in key growth sectors during the year.

“Our capabilities in the retail, health, commercial and hospitality sectors, to name a few, are being complemented by a rapidly developing skills base in the infrastructure and energy sectors – both of which will provide significant opportunities for us in the future.”

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