Midas breaks out of the west
- Published: 03 September 2008 17:09
- Last Updated: 03 September 2008 17:09
Bristol contractor Midas is planning to expand beyond its South-west stronghold into the Midlands and the south.
The firm is opening an office for its construction arm in Southampton in the next few weeks after winning a number of jobs on the south coast.
And Midas is also looking for further locations in the Midlands and along the M4 corridor to serve Reading and London.
Chief executive Alan Hope said: "In the last six months we have won £200 million of new orders in sectors where investment is still strong - food retail, affordable housing, education, health and leisure.
"It is a case of more of the same for us and spreading our geographical footprint."
The firm has been approached before - Balfour Beatty ran the rule over it before opting for Cowlin - but Mr Hope added: "We will continue to stay a privately owned independent company because it is serving us well."
Midas is aiming for £300 million turnover and £10m pre-tax profit by 2010. Profits in the year to 30 April rose 38 per cent to £5.9m on turnover up three per cent to £210m.
