Construction and property group Pochin has been hit by the global downturn, with pre-tax profit sinking to £1.7m – a fall of more than 80% from last year’s £9.1m.

Turnover fell from £116.5m to £115.2m. The UK-based group made an operating loss of £1.4m before its income and share of profit from joint ventures and associates were taken into account.