A LANCASHIRE construction company involved in several major regeneration projects in Blackburn and Burnley yesterday announced a raise in profits.

The Preston-based Eric Wright Group revealed a profit before tax of £10million for the year ending on December 31 compared to 2017's £7.2m.

Turnover increased to £170.4m up from £159.1m the previous year, principally driven by Applethwaite Homes, its residential division and Eric Wright Civil Engineering.

The firm was a major contractor in the development of Blackburn's £34m Cathedral Quarter and the regeneration of the town's Wainwright Way corridor, and built Darwen's Ellison Fold Way.

It is a key player in Burnley's flagship Pioneer Place development having constructed the town's new ambulance station and St Peter's Leisure Centre.

Jeremy Hartley, group managing director, said: “We have made excellent progress in meeting many of the targets we set out to achieve during 2018 which has allowed the group to deliver another strong set of financial results in sectors which, particularly in the case of construction, continue to present challenges.

"The group is looking to continue to consolidate its underlying financial stability as focus shifts into 2020 with realistic growth targets across all our businesses activities.

"The group also continues to work in partnership with Eric Wright Trust supporting a charitable giving strategy across the region."

Gill Chadwick, finance director, said: “A strong balance sheet gives us the capacity and flexibility to support further expansion in 2019 and beyond."