Warwickshire contractor Pettifer Construction has sunk 拢7m into the red for the year ended 30 September 2007 after a number of problem jobs.

The loss compares with a pre-tax profit of 拢810,000 on 拢57.9m turnover the previous year. Turnover dropped 12% to 拢51m.

Pettifer described its year as 鈥渧ery disappointing鈥�. It said: 鈥淭he settlement of a number of completed contracts produced unsatisfactory results and, together with a number of problematic current contracts, seriously affected margins.鈥�

It added that the appointment of Chris Pape as managing director had made a positive impact on the business. The former director of Carillion鈥檚 regional building division joined the firm last October.

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