Published Date:
09 January 2009
By Scott Reid
CONSTRUCTION consultant Bovis Lend Lease's Scottish arm has reported a slump in annual turnover but said revenues were set to recover on the back of a strong order book.
Annual accounts lodged at Companies Houses show that the firm, whose parent company is based in Australia, recorded sales of £82.8 million in the year ended 30 June.
The figure is well down on the £103.7m generated a year earlier and meant profits before tax tumbled to just £193,000 from £2.8m in 2007.
Bovis Lend Lease is perhaps best known as the construction manager on the Scottish Parliament project. Writing in the accounts for Bovis Lend Lease (Scotland), the company's directors blamed the fall in turnover on "programme changes on some key projects in delivery".
But they added: "Turnover levels are forecast to recover in future reporting periods due to secured education and other government work, and regional growth continues to be robust supported by the capital value of the order book of £250m (up from £150m]."
No final dividend is to be paid.
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Last Updated:
08 January 2009 8:37 PM
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Source:
The Scotsman
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Location:
Edinburgh
