Reduction in contracting revenue and loss on property development hit figures for London contractor
CJ O’Shea has reported a steep drop in pre-tax profit.
The London-based contractor, in its accounts for the year to 31 March 2025, reported pre-tax profit of £1.1m, down on the £7.9m reported for the previous year.
Its turnover dropped from £144.2m to £137.4m with income from contracting dropping by 2% to £130.6m. The business made a loss of £52.7m on its property development activity, down from a profit of £2.3m the previous year.
The firm said: “The directors consider the results to be satisfactory against a challenging business environment due to high interest rates, inflationary pressures and wider economic uncertainty. Despite this the group continued to trade profitably with strong cash management, cash flow controls and a selective approach to project delivery.”
O’Shea said it is also currently addressing building safety matters relating to external wall construction.
It said: “Investigations and assessments are ongoing, and the directors have taken steps to ensure that appropriate resources are available to meet potential future remediation, or associated costs should they arise. The position is kept under regular review as further information becomes available.”
O’Shea has been approached for comment.
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