REPORTING its results for the year to January 4 2003 on March 25, Peterhouse Group announced a 21% increase in turnover from £369m to £447m and 6% growth in profit to £16·7m. Executive Chairman David Jackson said the group had ’completed the final strategic moves’ in its transformation from a construction business to a support services organisation.
The acquisition of Scottish infrastructure maintenance company First Engineering in October 2002 increased profits at the Rail Services business by 255% to £3·9m. This year Peterhouse is to restructure its Rail Services business (now comprising First Engineering and JacksonEve) into two divisions under a newly-recruited Chief Executive. Rail Infrastructure will group the inspection, maintenance and track renewal activities, whilst Rail Projects will focus on major upgrades.