Inspace – which joined AIM at 108p in May having de-merged from private construction player Willmott Dixon – unveiled strong maiden AIM interims bereft of surprises. For the half to June, the property-based support services outfit reported a 73% profits leap to £3.4m, ahead of analysts’ forecasts, on a 64% turnover rise to £70.8m. Balance sheet strength was a highlight, with half-end cash stacked at £3.6m. The group is un-geared as outstanding debts were settled from the £9.4m net raised at float. Encouragingly for long-term earnings visibility, Inspace’s order book has swelled by more than 60% to £450m, boosted by social housing contracts with the likes of Basildon District Council and the London Borough of Hammersmith & Fulham, and stretching as far ahead as 2020. Chairman Colin Enticknap says the social housing stock division, Inspace Partnerships, is the key growth driver with the best margins going forward. It now makes up nearly 50% of Inspace's profits and 42% of sales, up from only 17% in 2002, and Enticknap envisages that sales proportion will grow to 60% over the next three years. Elsewhere within the business, Inspace Maintain and Inspace Environment, which jointly maintain corporate and public sector real estate for clients like Barclays and Whitbread Restaurants, turned in strong performances. And interiors business Inspace Complete scored some good growth on the back of rising Government spend on the refurbishment of Job Centres. For the full year, Francesca Raleigh at Numis envisages pre-tax profits of £7.9m, and 30% growth in earnings to 8.7p. After a great run on the price, the forward rating is 18.6 times, which isn’t cheap. But the shares are well worth holding for long-term growth.