Contractor returns to profit and reports 9% rise in turnover

Hochtief (UK) has announced a return to the black in the year ended 31 December 2006, with pre-tax profit of £2.5m.

In the previous year it made a loss of £365,000 after taking a hit on what it described as a “problem project”.

Turnover rose 9% from £43.1m to £47m and the salary of the highest-paid director increased from £101,000 to £110,000.

Staff levels rose from 171 to 199 (29 administrative and 170 in construction) and the average salary was £38,216.