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Shepherd Group has reported a 53% fall in pre-tax profit to just 拢13m on revenue of 拢748m.

In its accounts for the year to 30 June 2013, the group posted pre-tax profit of 拢13m, down from 拢27.6m in the year before.

However, it also reported an 11% rise in revenue to 拢748m, up from 拢671.6m, although this included 拢5.7m of revenue from operations that were discontinued over the year.

Writing in the accounts, Alan Fletcher, chair of Shepherd Group, said the year to 30 June 2013 had been 鈥渙ne of the most difficult years of the recession for the Group鈥檚 businesses鈥�.

He said the firm鈥檚 built environment division reported a 15% increase in 2013, its third successive annual increase.

However, he added that Shepherd Construction, one of the division鈥檚 main businesses, reported a fall in profit, though the firm鈥檚 accounts did not provide a divisional breakdown.

Fletcher said: 鈥淪trong earnings in the London and eastern regions have been adversely impacted by a number of challenging contracts in the western region and by a strong focus on achieving contract deadlines.

鈥淭he business is seeking to target a lower level of revenue but of significantly higher quality as it manages the margin pressure in the market generally and the risk/return profile of its varied sectors.鈥�

He added that Shepherd Homes was benefiting from 鈥渟ignificant signs of recovery鈥� in the housing market following government interventions to increase homebuyers access to finance.

He said the division鈥檚 other businesses, Shepherd Engineering Services and Shepherd FM, grew revenue in 2013.

Fletcher said that Shepherd Group Engineering, a new division formed from its Portastor and Portasilo businesses in 2012, had had a 鈥渧ery challenging start鈥� because of 鈥渢wo problematic and loss making contracts鈥�, which were set to have a continued impact in the year 30 June 2014.

He added that the Portakabin business had reported a slight dip in revenue and profit following the end of the 2012 London Olympic construction programme.

He said: 鈥淭he [group鈥檚] strategy focuses on improving the quality and mix of group earnings with each division taking actions to broaden their markets in sectors with attractive margins.鈥�