Brian May, the chief executive of Renew Holdings, has said the company will increase its reliance on the specialist engineering division as a result of the recession

Giving its results for the six months to 31 March, May said the arm鈥檚 contribution had grown from 15% in 2005 to 40% and the figure was likely to increase.

The division includes its nuclear operation, which is on four frameworks run by the Sellafield reprocessing plant in Cumbria. Turnover rose 15% from 拢50.4m to 拢58.2m.

This month it bought Mothersill Engineering, a nuclear machining and fabrication business, for 拢400,000. May said he was seeking more bolt-on businesses in the nuclear and water sectors.

Turnover across the group fell 11% from 拢192.9m to 拢171.6m, while the specialist building division, which includes Allenbuild and Britannia Construction, recorded a fall of 19%, from 拢140m to 拢113m.

Pre-tax profit across the group fell 40% from 拢3.9m to 拢2.3m after exceptional items, which included 拢1m for the settlement of an outstanding contract.

The group ended the period with net cash of 拢17.5m, down from 拢25.7m in 2008.

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