Loss-making contractor says construction arm will struggle to be profitable after delays in key contracts
Pochin has warned that projects delays would hit profits in its construction business in the second half of the year.
The construction and property group reported a cut in its overall losses from £4.37m to £0.47m in the six months to 30 November 2010 but warned that conditions in regional property and construction markets remained ’subdued’.
Pochin said that despite the project delays, the forward order book remained healthy in its construction division. It said its concrete pumping business was still making losses but said last year’s reorganisation would improve full year results.
In its property division based largely in North West England, Pochin said there were few opportunities for development.