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Mouchel profits from public sector

The public sector is a good place to be according to consultants Mouchel, who reported an 46% increase in revenue to £657M and a rise in pre-tax profits - before exceptional items - of 20% to £38.8M in their preliminary results released today.

Mouchel have acquired HBS and Hedra in the past year but acquisations aside, underlying revenue rose by 14%.

"We're focused on long term services with the public sector," Mouchel Group chief executive Richard Cuthbert said: "We're not exposed to the commercial sector. The public sector is a good place to be."

According to Cuthbert, "some capital projects have been deferred, but we concentrate on maintenance. There will be tightening of budgets but this is not new," he said.

"Local authorities have had declining budgets for the last few years now and so might be persuaded to outsource. Private working in partnership with public can extract efficiencies and transfer risk."

Mouchel continues to have a strong forward order book and bidding pipeline of £2.1bn and £2.2bn, respectively.

"It's not time for a change in strategy," said Cuthbert. "We're not immune to the current turmoil but we are well placed."

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