T&B greets good figures with caution • Tibbett & Britten
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posted a "pleasing" 30% sales increase last year, but is anxious to calm down City estimates of similar growth in 1998.
"We'll be using 1998 to consolidate," says T&B chairman John Harvey. "We have lots of new contracts, and we have to swallow the Arcadia/Debenhams de-merger. Things will still be lively this year, but probably not 30%."
Pre-tax profits rose 18% to £28.2m on sales of £924m in the year to the end of December.
Organic growth which, despite five acquisitions, accounted for 75% of last year's increase will continue to be the primary driver and should create more jobs at the company.
And Harvey hopes that the recently announced rail-connected distribution centre at Daventry will put T&B in line for new contracts in 1999 (CM 26 March-1 April).