Thomas Vale nearly doubles pre-tax profit

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Thomas Vale almost doubled the amount of money it made last time with the Worcestershire contractor seeing profits hit £3 million.

The firm, which carries out the bulk of its work in the Midlands and the Thames Valley area, said revenues in the year to 31 March 2008 were up 27 per cent to £195 million.

Chairman Mike Wallis said: "Over the last five years the business has grown annually by an average of 26 per cent. Our order book is a record level of £500 million and we expect to continue that growth in the future.

"Such strong year-end results provide a solid foundation for organic growth in our core business areas in social housing, education, healthcare and infrastructure."

Thomas Vales has been linked with a move for some of the contracts for failed Midlands rival Chase Norton. Administrator PricewaterhouseCoopers said it is in discussions with firms about novating contracts across.