Mid-sized contractors feel the pain
Published: 23 October, 2009
PRESTON: Mid-sized contractors report falls in turnover and profit reflecting tough trading conditions.
Eric Wright Group, the north-west England construction firm, posted a pre-tax loss of £1.6m in 2008 after a writedown of £4.9m on its commercial and residential assets.
Turnover at the company fell almost a third from £164.3m to £117.2m. In relation to its construction arm it said: "Winning work in a deteriorating market proved extremely difficult."
Further north, Glasgow-based Dawn Construction suffered a 21% fall in turnover from £83.5m to £65.7m in the year to 31 January 2009. Pre-tax profit fell 29% to £8.7m.