Companies: HVE   

Self-proclaimed eurosceptic Hew Balfour – a prominent supporter of the ‘vote no’ campaign against the European Constitution – is driving a disciplined revival at aptly named Havelock Europa, the Scottish shops-to-schools outfitter.

Balfour, a former Scots Guards officer and the sixth generation of his family to join the armed forces, previously served with property development and construction firm Miller Group, as well as rat-catcher Rentokil. Under his instruction last year, Havelock Europa scored sales of more than £100 million, with pre-tax profits surging 49 per cent north to
£6 million.

Balfour drove strong performances from two of the group’s three divisions, among them retail interiors, where clients include Primark, HBOS and Marks & Spencer, and the point of sale display division.

The relative black sheep was the Education Furniture and Supplies arm, which posted lower profits due to a temporary lull in PFI/PPP school refurbishment schemes. This division is gearing up for a predicted increase in business in this area this year and next.

Havelock’s 2005 performance marked a continuation in the revival of the group’s fortunes over recent years, thanks to a stricter focus on high-margin work twinned with acquisitions.

Havelock Europa	LSE	£16.57m	43.00p	3.00p
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Other company articles:
Havelock on expansion trail			03/04/2007
Havelock Europa buys furniture group			06/02/2007
A good schooling for Havelock Europa			06/10/2006
Eurosceptic grows Europa			10/04/2006
Havelock Europa			10/10/2005