Construction arm leads recovery at Pochin

Aaron Morby 11 years ago
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Cheshire-based Pochin has bounced back into the black after construction turnover rose nearly a third in the half-year.

The firm, which was forced to sell its loss making concrete pumping business last July, said it was on course to deliver improved results from its remaining construction and property divisions today.

Chairman Richard Fildes said: “With the elimination of concrete pumping trading losses, the group is in a position to benefit from its core activities of construction and property investment and development.

“The strong turnover performance in construction is a reflection of the division’s established reputation for quality and reliability. This continues to prove of great value in sustaining the group during the difficult conditions which persist in the regional commercial property market.”

Pochin saw sales jump 41% to £43.3m and pre-tax profits rise 17% to £602,000 in the half-year to November.

Fildes said that the uplift in construction was achieved while maintaining margins and that forward orders had topped £70m.

The firm also said that former finance director John Edwards will be replaced by Nigel Rawlings, who joins from healthcare developer Assura.

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