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SMC set to go public

The ever-growing architectural firm SMC is set to float on the London Stock Exchange's Alternative Investment Market at the beginning of next month.

Company bosses hope to raise approximately £7 million to invest back into the company in order to fund ambitious growth plans.

The firm has recorded a compound annual growth rate on turnover of 61% since 2002, while profits grew in the two years to the end of 2004 from £3.1 million to £8.1 million.

Stewart McColl, the founder and chief executive of SMC, said yesterday: 'There is a significant opportunity to establish a market leading group in architecture and design.

'Larger projects are normally led by larger companies and we are building a group with the scale and capability to compete for major projects with higher margins.

'A listing on the AIM market will help us both facilitate new business opportunities and acquire other companies,' he added.

by Ed Dorrell

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