PCH expands

MALAGA-BASED scaffolding and form work supplier, PCH Group Ltd, has announced plans to acquire Melbourne-based Linc Scaffolding and the remaining 50 per cent stake in Geelong West Scaffolding. PCH said the acquisitions would provide it with positions in both the residential and industrial markets in Victoria with effect from July 1 2007. Linc and PCH have maintained a business relationship over the past two years, in which Linc has sourced hire equipment (including scaffolding, temporary fencing and hoists) for the residential building market through PCH on a ‘cross-hire’ arrangement. PCH will acquire the remaining 50 per cent shareholding in Geelong West, after being a founding shareholder in the company. Geelong West was established in 2005 to service the industrial market in the south-east of Victoria. PCH managing director James Cullen said the group would have a combined turnover of about $10 million in the Victorian market. Mr Cullen said Linc founder and Geelong West co-founder Craig Roylance would be responsible for managing and developing PCH’s Victorian operations. The purchases will be funded by a mix of cash, shares and profit related contingent components. Mr Cullen also confirmed that PCH’s 2007 year was ahead of budget. Following the low first-half pre-tax result of $3.6 million, the company said the expected rebound in earnings had commenced as investments in new international markets began to contribute. As a result, it expects to report a full year pre-tax result in excess of $10 million. “We are seeing the benefits of our expansion strategy now starting to come through in line with previous advice to the market,” Mr Cullen said. “Whilst not all new regions have reached profitability yet, we continue to pick up new work and build towards the required critical revenue mass.”

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