Laing O'Rourke narrows losses but Canadian hospital blowout tops £200m

By Dave Rogers2019-02-19T06:00:00

Firm eyes more negotiated work to help it hit 5% margins target

Laing O’Rourke has said it is targeting more negotiated contracts as it looks to lift margins to an industry-beating 5% and return the firm to the black after posting another year of losses.

The country’s biggest private builder narrowed losses in 2018 but continuing problems with a PFI hospital contract in Canada helped keep it firmly in the red for the third successive year.

Laing O’Rourke said it has now lost £206m on the Centre Hospitalier de l’Université de Montréal project, which the firm is delivering in joint venture with Spanish contractor OHL, after it racked up a £26.4m hit on the scheme in the year to March 2018.

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