A FIRM looking to take advantage of the expected upturn in the construction industry has set itself targets of near-doubling turnover to £5m and establishing itself as a UK market leader.

Precision Geomatics supplies land survey, setting out, machine control and safety equipment from a range of industry-leading manufacturers through its headquarters in Sunderland.

It already has long-term relationships with many of the biggest construction, housebuilding and surveying companies in the North-East, Cumbria, Yorkshire and Scotland.

Now, it is looking to expand its coverage of the UK after securing investment and winning new contracts. In the past six years, it has increased its workforce from 15 to 28, and has plans to increase this figure over the next 12 months, having already taken on two senior staff this year.

An e-commerce-enabled website will also help the firm increase its reach right across the UK, and the business recently secured the contract to sell innovative new computer software that monitors and controls street lighting systems to Blackpool Borough Council.

Other similar lucrative local authority contracts are said to be already in the pipeline.

Precision Geomatics has also secured £150,000 investment from regional fund management firm NEL Fund Managers to help with its expansion.

Managing director Gwyneth Bell, who formed the business through a management buy-out (MBO) of the Sunderland survey centre of Japanese equipment manufacturer SOKKIA in 2004, said: "The MBO enabled us to put our own regional stamp on what was already a successful operation, and the growth we've enjoyed since 2004 is clear proof that we made the right move. Diversification has enabled us to become a one stop shop for many of our customers, and we are reinforcing this trend through further widening our product range and establishing ourselves as a truly UK-wide operator.”