Richardson Projects, the north of England social housing contractor, boosted pre-tax profit by 44 last year from ￡3m to ￡4.3m. In the year ended 31 August 2007, turnover rose 20 from ￡40.2m to ￡48.1m, which meant a profit margin increase of 7.5 to 9. The directors said the results pointed to "another successful year" and that the company predicted "significant growth" over the coming 12 months. The company was bought by Rok for ￡40.5m in cash and shares, days ahead of changes to capital gains tax laws on 6 April. The changes introduced a flat rate of 18 on chargeable gains compared to a previous maximum of 10.
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