Forestry-based turnover at fountains plc rose to £2.728m in the six months to March 31 this year on the back of demand for management, broking and consultancy. Turnover in the corresponding period of 2003/04 had been £1.884m.

The company’s forestry services ex-tend to some 750,000 acres in the UK and US. “Our US business continues to make solid progress,” said chairman Barry Gamble. “In the UK, we have an improved situation with some newly-instructed and re-confirmed manage-ment mandates.” The modest recovery in the UK timber market has led to an increase in harvesting and therefore re-stocking work, according to the com-pany.

Compared to the same period last year, pre-tax profits at fountains plc as a whole increased by 14% to £724,000 on a turnover of £18.1m. Mr Gamble said: “These results are in line with our expectations. We have already secured 90% of our anticipated turnover for 2005.”

A spokesperson for fountains plc also confirmed that the company was seeking further growth through acquisi-tion and that this strategy extended to its forestry interests in the UK.

&#8220These results are in line with expectations. We have already secured 90% of our anticipated turnover for 2005 ”

fountains chariman Barry Gamble