Quotes from an article that appeared in The Herald newspaper
Havelock sees rewards of PFI in schools
Havelock Europa increased profits by 14% in the first half, helped by strong growth in its educational fittings business, which it expects to benefit from a surge in government spending on schools for years to come.
An increase in revenues from £40.3m to £42.1m, which was entirely attributable to the educational division following a big increase in spending by the Scottish Executive on school improvement projects under the private finance initiative (PFI).
Whereas the executive laid out around £190m on school PFI projects under phase one of its schools improvement programme in 2002-03, spending topped £280m in the latest year.
He expects spending to rise to £715m in Scotland in 2007-08
However, in both cases Balfour was pleased that Havelock Europa had won new business from firms such as Marks & Spencer.
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