Support services group Mitie - which employs around 3,000 people in the Midlands - has painted a positive picture for the future despite reporting a fall in pretax profits.
The up-beat mood comes as the company revealed turnover was up 17.9 per cent year-on-year, with profit before tax, exceptionals and goodwill up by 16.3 per cent.
Chief executive Ian Stewart said: "Mitie has had a good year and I am pleased with progress. The business has excellent prospects."
The Bristol-based group yesterday revealed full year pretax profits of £35.9 million against £38.2 million a year earlier. Turnover was £ 818.6 million, against £694.5 million.
Profit before tax, pregoodwill and exceptional items rose to £46.9 million from £40.3 million.
Mr Stewart said exceptionals and goodwill issues included those coming from the disposal in a management buyout - as previously reported in The Birmingham Post - of its Birminghambased scaffolding arm Mitie Generation.
The sale came as part of the group's strategy to become a "true blue collar organisation", Mr Stewart said.
Key customers continued to renew contracts in high numbers and recent acquisitions were performing better than hoped. Mitie bought Eagle Pest Control and security firm Trident Safeguards in the summer of 2003.
Mitie provides a string of services to private firms and the public sector ranging from pest control, cleaning and catering to grounds maintenance, security and engineering.
Customers include Marks & Spencer, the Ministry of Defence, Doncaster Airport, drugs giant Pfizer and Transport for London.
Mitie said margins in its Engineering Services business continued to be under pressure, which the company will attempt to improve in the coming year despite its impact on turnover.
Its other units all performed well.
The group said it remained confident in its outlook and was seeking to make bolt-on acquisitions:
It said: "We will continue to look for opportunities where it is viable to start new companies. We will continue to grow organically within our chosen markets and look to expand our range of services within our skill base."
The group would continue to look for opportunities to "make bolt-on acquisitions provided our criteria are met".
Chairman David Ord said: "Mitie has an 18-year track record of continual growth.
"The company is in an excellent financial position and is well positioned for further success."