Profits at public services group Pinnacle, which includes recruitment specialist Rockpools, have soared by more than 50% in just 12 months.
The group announced profits last month of £1.65m for 2005/6, compared with £1.09m the previous year, an increase of £563,000.
Said chief executive, John Swinney: ‘Pinnacle's continued growth and success is a direct result of the commitment and input by the staff within our three operating companies – Pinnacle Housing, Pinnacle Maintenance Services and Rockpools.
‘The Pinnacle teams' passion for innovation and giving back to the community has enabled the group to achieve increasing success.'
The company currently employs 1,500 people and has contracts with a number of local authorities, including Newcastle City Council, Slough BC and Derbyshire CC.
Last week, Pinnacle signed its biggest-ever housing management deal, worth more than £3.5m a year, with Hackney Homes, which is owned by Hackney LBC.
The new contract is to provide services to more than 7,500 homes in the Stamford Hill area.
Hackney Homes also renewed Pinnacle's existing contract to look after homes in Shore-ditch for a further five years.
Mr Swinney added: ‘Re-winning Shoreditch is particularly pleasing, as residents were heavily involved in awarding the contract, and this re-enforces the work we have carried out over the past nine years and the relationships we have developed with community representatives.'
And Susmita Noonan, director of housing services at Hackney Homes, added: ‘The award of the new contract to Pinnacle is a testament to the hard work of Hackney Homes' residents, who were part of the tendering process from start to finish and had a real influence in the decision-making.'