Thursday, June 11, 2009

Pihl UK turnover hits ВЈ60m in first full year

Pihl UK, the Danish-owned contractor working with Galliford Try on the new Museum of Liverpool, has recorded a ВЈ60m turnover in its first full-year of trading.

The firm, which announced this week that it is to open its new headquarters in Aberdeen, made a pre-tax profit of ВЈ3.8m for the year ended 31 December 2008.

Pihl's profit arose from two major long-term contracts - the 3Rs Schools schools project in Aberdeen worth ВЈ120m, and the ВЈ21m Liverpool Museum.

The 3Rs projects is currently undergoing a debt refinancing, following the collapse of the Icelandic banks which were backing the scheme. But Phil's directors said that an failure or delay in the process "will not detrimentally affect Pihl UK Ltd's ability to meet its liabilities."


Pihl UK turnover hits ВЈ60m in first full year


The Liverpool Museum is set for completion in summer 2009.

Aird Buist, Pihl UK regional manager, said: "From our inception in 2007, we have gorwn from three to over 90 members of staff.

"We are investing significantly in the remodelling of our new new building [in Aberdeen]. The location represents the growth we are experiencing as a company, which is resisting the recession trend with an increase in turnover from ВЈ13m in 2007 to over ВЈ60.1m in 2008."