However, turnover dropped by 12% over the last financial year
Vinci UK’s profit has soared by 154% from £15.4m in 2009 to £39.1m last year. At the same time turnover dropped by 12% over the last financial year from £1.16bn to £1.03bn.
In a statement on Monday, the company blamed the decline in revenues on market conditions.
The company said that the majority of its operations are now contracted under the Vinci Construction UK brand, three years after it acquired Taylor Woodrow for £74m.
John Stanion, chairman and chief executive, warned of the coming impact of public sector cuts, but the company stated that the impact would be softened by its business model, “which combines short-term contracting with long-term frameworks and facilities management.”
It continued:”We are confident that the combination of our financial strength, market leading positions and our company heritage will ensure our continuing success despite the challenging times we continue to operate in.”
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