Clugston Construction ran up a £528,000 pre tax loss for the year to January 2018 compared to a £1.29m profit last time despite turnover surging more than 50% to £158m.
Clugston said the market “was without doubt the most challenging in years.”
It added that several project starts were delayed by clients due to economic uncertainty resulting in profits falling to a seven year low.
Supply chain problems were also highlighted due to a lack of “sufficient good quality resources”.
Clugston said: “This was exacerbated by the significant increase in activity.
“This issue led to productivity and quality issues on several projects, depressing the level of profitability at project level.”
Clugston has now carried out a strategic review of the business and will focus on three key markets: Energy from Waste, construction and facilities management.
It said: “2018 will again be a challenging year, but we are better placed to deal with some of the issues we experienced this year.”
from Construction Enquirer http://www.constructionenquirer.com/2018/08/03/problem-jobs-see-clugston-post-a-loss-as-turnover-soars/
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