Contractor says spiralling energy costs usher in loss 

John Sisk said the impact of inflation on fixed price jobs sent the firm slumping into the red last year, its latest report and accounts reveal.

The firm, which is favourite to carry out the scheme to extend Manchester City’s Etihad stadium after Laing O’Rourke failed to agree a price, racked up a £2.5m pre-tax loss in 2022 from an £8.4m profit last time.

Etihad hd 2

Sisk is favourite to carry out the extension of Manchester City’s Etihad stadium, designed by Populous

In a note accompanying the accounts, now filed at Companies House, the firm said its performance had been hit by the ongoing effects of covid-19 as well as “the impact of energy costs on fixed price contracts”.

But it said it expects to return to profitability this year and was confident about business prospects for 2024.

Turnover for the year fell 8% to £351m.