Contractor says spiralling energy costs usher in loss
John Sisk said the impact of inflation on fixed price jobs sent the firm slumping into the red last year, its latest report and accounts reveal.
The firm, which is favourite to carry out the scheme to extend Manchester City鈥檚 Etihad stadium after Laing O鈥橰ourke failed to agree a price, racked up a 拢2.5m pre-tax loss in 2022 from an 拢8.4m profit last time.
In a note accompanying the accounts, now filed at Companies House, the firm said its performance had been hit by the ongoing effects of covid-19 as well as 鈥渢he impact of energy costs on fixed price contracts鈥�.
But it said it expects to return to profitability this year and was confident about business prospects for 2024.
Turnover for the year fell 8% to 拢351m.
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