Red alert
Article Abstract:
The 10 leading contractors are likely to have seen profit fall to only 38 million pounds sterling in 1991, from 472 million pounds sterling in 1990, and at least five of the largest companies are predicted to make a loss or only just break even. Taylor Woodrow (Taywood), for example, has seen difficulties in all its areas of activity, and will probably have to make provisions of 62 million pounds sterling, while Tarmac looks likely to see the largest fall in profit among the leading contractors. Wimpey, the second-largest housebuilder in the UK, will probably not make a profit at all, and along with Tarmac and Costain will suffer from its involvement in the Channel Tunnel project.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
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Total write-off
Article Abstract:
Large write-offs due to falling land prices have contributed to financial losses for construction companies in the year to Mar 1992. Thirteen major companies have a total loss of 122 million pounds sterling, a reversal of the 454 million pounds profit made in the previous year. However, as write-offs were a significant part of the loss, results for 1992-3 are expected to be better. Companies that have remained in profit include Raine Industries and Tilbury Douglas.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
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