Japanese contractor Kajima posted a pre-tax loss of 拢5.4m in the year ended 31 December 2007, taking its losses to 拢124m in three years.

Last year the figure was 拢33.6m and the year before it was 拢85m.

The company said it was continuing to wind down its construction and civil engineering operation in the UK after racking up huge losses on problem PFI contracts.

These included a housing scheme in Leeds and a 拢57m project to build the headquarters for the Health and Safety Executive in Merseyside.

Turnover at the group dropped 77% from 拢51.9m to 拢11.8m.

The company said: 鈥淎part from works required to meet the remaining obligations under existing contracts, the company鈥檚 activities have now ceased.鈥�

Topics