M&E firm moves away from rail work after sector problems lead to group loss of £6.1m
M&E contractor Emcor has stopped bidding for rail work after heavy losses in the sector have driven it into the red.
Accounts filed at Companies House show that the company made a pre-tax loss of £12.3m at its rail business on turnover of £42.3m in the year to December 2007.
The rail figures meant that overall the firm dropped into the red last year, reporting a group loss of £6.1m, down from £4.3m pre-tax profit the previous year. Rail turnover fell 4% to £378.6m.
Emcor's continuing businesses, which focus on the facilities services and engineering sectors, recorded a pre-tax profit of £6.2m on turnover of £336.4m.
The firm said it took a decision towards the end of last year to stop bidding for work in the market, in which it has previously worked on flagship UK rail schemes including the Channel Tunnel Rail Link and the Jubilee Line Extension.