Tigers' steel firm hikes profits

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The company that is carrying out the steelwork contract on the new stand for Leicester Tigers rugby union club saw the amount of money it made go up last year by nearly a third.

Nottinghamshire contractor Caunton Engineering hiked pre-tax profits up to £2.7 million with revenue up 14 per cent to £37.7 million in the year to 31 January 2008.

Caunton, which is based in Moorgreen just north of Nottingham, will put up 1,000 tonnes of steel at the rugby club's new 10,000 seat ground for main contractor Galliford Try. It will be the largest club union capacity in the UK.

In a statement accompanying its report and accounts filed at Companies House, Caunton said it expected another good year ahead.

It added: "The directors remain confident that the company's excellent customer relationships and enviable reputation for completing contracts on time and within budget will result in another strong performance in 2008-09."

The firm increased the number of its employees last year by 21 per cent with the amount of production staff rising by a third.

The recruitment drive pushed its wages bill up by nearly 16 per cent to £6.6 million. The salary of the highest paid director, who is not named, rose £5,000 to just under £113,000.