Thursday, September 17, 2009

Utilities drought hits VolkerWessels UK

Falling workloads in the commercial building and utilities markets have depressed turnover at VolkerWessels UK.

The firm's Dutch parent company posted half-year results for the entire group showing a net profit of ВЈ22.5m on turnover of ВЈ1.77bn.

Figures for last year were not released by the firm because it has changed reporting practices during the past 12 months.

Turnover in the UK division - which includes Volker Fitzpatrick, Volker Rail and Volker Highways - was ВЈ243m

The company said: "In the civil engineering roads and building UK sector results for the first half of 2009 have lagged behind the first half of 2008.

"In particular industrial and utility building are under pressure because of low market volumes. The roads and civil engineering sectors performed well in sound markets.

"The result for the entire year 2009 is expecetd to be lower as a result of the pressure on volumes in industrial and utility building and the provisions for reorganisation."

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