Civils sale helps Osborne edge back into black but losses from continuing operations spiral

By Dave Rogers2022-07-01T06:00:00

Proceeds from disposal of infrastructure arm helps group into profit but ongoing construction business falls deeper into red

The sale of Osborne’s civil engineering business helped the firm back into the black last year – but losses from the business it has kept more than doubled to nearly £46m.

The firm sold its infrastructure division, which operated in the roads and rail market, to private equity last September making a £39.5m profit on the disposal which dragged the group to a £675,000 pre-tax profit in the year to September 2021 from a £15m loss in the 18 months to September 2020.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community