Business Weekly - Cambridge, UK

 The Herts-based company said that despite weaker demand for its connector plate products because of the widely reported reduction in housing activity in the UK and the Republic of Ireland, turnover and profit before tax of the firm for the six months to December will be significantly higher than for the same period last year.

Eleco said that its offsite construction products and software remain in strong demand, with the order books of its building systems businesses exhibiting continued growth in the period to the end of December.

It added that its £7m purchase of Gloucestershire-based concrete products producer, Milbury Systems in November will play an increasingly important role in the progress of its precast concrete interests.

In a trading statement, its board noted the need to exercise an increased degree of prudence in the conduct of its businesses in the uncertain economic climate, but said that it was "confident that Eleco will continue to progress in the second half-year, having regard in particular to the strength of our order books and our strong financial position."

Full results will be released on 18 March.

Shares in the company have seen marginal growth, rising 2.5p to 95p.  

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