The workforce at ElecoPrecast’s two sites has risen from 63 to 110 since the start of the year as operating divisions Bell & Webster Concrete and Milbury Systems saw an upturn in precast orders led by student accommodation work.

Eleco offloaded SpeedDeck Building Systems, Prompt Profiles, Stramit Panel Products and Downer Cladding Systems in May.

Executive Chairman, John Ketteley said: “It is clear from the Group’s performance over the past half year that trading conditions have been challenging.

“With that being said however, the increasing signs of both an upturn in our business and the wider economy are strongly encouraging.

“The sale in May of our loss-making building systems businesses, alongside many other similarly tough decisions, now leaves the Group in a far stronger position now than it has been in for many a year.

“With the company’s new-found ability to increasingly capitalise on profitable growth across its divisions and markets and with Eleco increasingly seeking to take advantage of growing activity across the building and construction sectors, I look to the Company regaining its poise and moving back onto the path of sustained growth.”

Interim results for the six months to June 30 2013 show the group made a pre-tax loss of £600,000 compared to £300,000 last time on turnover down to £13.2m from £13.5m.

The precast division made an operating loss of £500,000 on a turnover of £4.9m.