Facebook has begun to develop a new office version of its social network to rival sites like LinkedIn, according to a report in the Financial Times.

The newspaper says the company is preparing a new website called “Facebook at Work” which allows users to connect with contacts and talk to colleagues.

The site will “look very much like Facebook”, according to the newspaper, “but will allow users to keep their personal profile… separate from their work identity”.

The company declined to comment when contacted by the Financial Times.

Facebook’s quarterly profit doubled to $802m (£511m) last month, however its stock price suffered after the company outlined plans to invest heavily in the future.

“We are going to continue preparing for the future by investing aggressively, connecting everyone, understanding the world, and building the next-generation in computing platforms,” founder Mark Zuckerberg said.

“We have a long journey ahead,” he said.

The social network – which has more than 1.35 billion monthly active users – completed its multibillion-pound deal for mobile messaging application WhatsApp last month.