A towering economic performance by Brentwood-based construction company Countryside Properties has been hailed as a success story for the town.

This week the company, which has been based in Brentwood for seven years, announced record results with both turnover and profits rising massively.

Despite gloom in many other areas of the UK economy Countryside's turnover has increased by 35 per cent to more than £400m since last year.

At the same time the company pre-tax profits have increased by 23 per cent to £30.4m.

And Countryside bosses are optimistic about the future with consumer confidence and the pressure for more housing suggesting demand will remain stable.

Countryside Chief Executive Graham Cherry said: "We have been forecasting this result for over a year and we have achieved what we set out to do.

"We have seen a big increase in turnover and profits and there has also been a significant increase in the number of homes we have sold.

"The basic fundamentals remain sound - consumer confidence is holding steady and affordability is improving because of further cuts in mortgage interest rates.

"The froth may have come off the housing market since early summer, but prices remain very steady."

Mr Cherry said the company was proud to be based in Brentwood and pleased that some of its most successful projects were within the town - such as The Square and Clements Park.

He said: "Brentwood is obviously very well located in terms of our core business in London and the South East.

"But, it is also where the business was born and developed with many of the principle members of our management team coming from the area.

"We have been well served by the town and have a great loyalty to Brentwood."

Brentwood MP Eric Pickles praised the company's record: "Countryside Properties is a terrific local success story. From relatively small beginnings it has become one of the most important and imaginative construction companies in the country.

"In Brentwood itself it has had a tremendous impact. For example, right in the heart of the town we have the development in Hart Street."

Countryside is enjoying an exceptional spell at the moment after gaining a series of top awards and completing a number of high profile projects.

The announcement of record results came hot on the heels of being named Housebuilder of the Year 2001 by What House? magazine and awards for schemes in Somerset and London.

As a result Countryside bosses believe it is in a strong position to continue the upward trend and push for more of a market share.

Countryside chairman Alan Cherry said: "We believe the Group's valuable and ever improving reputation for being a responsible, innovative developer will enable the Group to achieve further success."

Published Thursday November 29, 2001