Boss admits QS 鈥榣ost direction鈥 but says restructuring has boosted turnover to 拢60m
Currie & Brown has pledged to return to the black by 鈥渢he millions鈥 this year after admitting it was forced into a 拢2.8m restructure when it 鈥渓ost direction鈥.
Euan McEwan, chief executive, said the business was 鈥済etting back to basics鈥 and had an exceptionally strong order book, up 20% on last year.
Speaking ahead of accounts to be published in February, McEwan added this had helped boost turnover to around 拢60m for the 12 months to September.
This would mark a significant turnaround in the company鈥檚 fortunes after it was forced to delay mid-year results despite shareholder pressure.
When the results were finally laid bare in July they showed a 拢1.6m loss over 18 months, after it had spent 拢2.8m on restructuring. The company made an underlying profit of 拢500,000 on turnover of 拢87m.
Currie & Brown has lost direction a little but is getting back to basics
Euan McEwan
McEwan, who became chief executive two years ago, said the company had 鈥渓ost direction a little鈥. He added that Currie & Brown 鈥 ranked joint 22nd in 好色先生TV鈥檚 list of the top 100 surveyors 鈥 had 鈥渟ignificant new business鈥 in the UK and overseas.
It has won a five-year healthcare infrastructure project for the Mexican government, it is project manager on the 拢96m, 75-storey Infinity Tower in Dubai and has been appointed technical adviser to the Barking and Dagenham 好色先生TV Schools for the Future programme.
It is also preferred bidder for Glasgow council鈥檚 property services outsourcing. This is still being negotiated and McEwan said it was too early to say how much it would be worth.
The company said the bigger, long-term projects were part of a three-year strategic plan.
Postscript
For more on Currie & Brown go to www.building.co.uk/archive
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