But turnover up at contractor
John Sisk & Son has revealed a 拢9.7m loss in its latest results owing to legacy remediation costs
The loss was more severe than the 拢2.5m loss recorded in 2022 and came despite a rise in turnover from 拢351m to 拢475m.
Remediation costs relating to a 鈥渟mall number of legacy issues鈥� were cited as the cause of the loss, while the UK contractor said the increase in turnover was down to strong performances from large scale residential and commercial projects.
Paul Brown, chief executive of John Sisk & Son, said: 鈥淥ur underlying businesses performed very strongly in the year but faced a few challenges related to a small number of legacy issues which we have a firm handle on and have fully provided for in the accounts.
鈥淎s part of the wider Sisk Group we are able to take a more strategic view on the results and I am very happy that we have an excellent mix of multi-year projects in our UK business.鈥�
>> Read more: Sisk on track for 2025/26 finish for Manchester City stadium expansion
Sisk is currently delivering on multiple road upgrade projects for National Highways, including the A12 project, and recently secured a contract with Manchester City FC as part of the 拢300m Etihad redevelopment.
The wider group鈥檚 order book for 2024 is in excess of 拢1.7bn.
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