Proifit soars 154% to 拢39.1m

Vinci has seen its turnover drop by 12 per cent over the last financial year from 拢1.16bn to 拢1.03bn.

In a statement the company blamed the decline in revenues on market conditions, but said that the impact was minimised by its business model 鈥渨hich combines short term contracting with long term frameworks and facilities management. 鈥�

The statement continued: 鈥淲e are confident that the combination of our financial strength, market leading positions and our company heritage will ensure our continuing success despite the challenging times we continue to operate in.鈥�

At the same time profit increased by 154% from 拢15.4m in 2009 to 拢39.1m last year.

The company said that the majority of its operations are now contracted under the Vinci Construction  UK brand, three years after it acquired Taylor Woodrow for 拢74m in a move that immediately contributed to 29% turnover growth in 2008.

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