M&E contractor Emcor has stopped bidding for rail work after heavy losses in the sector pushed it into the red.
Accounts filed at Companies House show the company, which previously worked on the CTRL and Jubilee line extension, made a £12.3m pre-tax loss in its rail business on turnover of £42.3m in the year to December 2007.
That result pushed the firm’s overall performance into the red last year. The group made a loss of £6.1m, compared with a £4.3m pre-tax profit the previous year. Turnover fell 4% to £378.6m.
Emcor’s continuing businesses, which focus on the facilities services and engineering sectors, recorded a pre-tax profit of £6.2m on turnover of £336.4m.
The firm said it took a decision towards the end of last year to stop bidding for rail work.