The large loss, coming after the building division posted losses of £6.6m in 2012, dented overall UK performance, although group activities were kept in profit from the sale of PFI stakes.
John Stanion, chairman of Vinci plc, said: “In light of the difficult trading environment, which led to significant trading losses we continue to reduce our overheads and concentrate on quality initiatives.”
Staff numbers dropped by around 300 to 3,764 during the year.
Vinci’s group-wide staff survey to measure engagement fell from 80% to 75%, due to the difficult trading conditions and business change, said Stanion.
Vinci’s overall UK business, which also includes civil engineer Taylor Woodrow and facilities management and PFI divisions, reported pre-tax profits halved at £7.1m from the previous year, while revenue grew 14% to £1.25bn.
Trading divisions
- Building: Loss £33.8m (2012: £6.6m loss); turnover £618m (2012: £599m)
- Civil engineering: Profit £10.5m (£11.7m); turnover £379m (£242m)
- Facilities Profit: £6.7m (£7.1m); turnover £228m (£245m)
- PFI: Profit £22.3m (£1.6m)
Vinci made a profit of £22m on the sale of several PFI stakes, including Medway police station, and school projects in Derby, Newport and Sheffield to Infrared Capital Partners.
He said prospects at the civil engineering business looked good as Taylor Woodrow focused on major projects.
In partnership with other Vinci companies, Taylor Woodrow is bidding for the final phases of Sellafield’s Silos Direct Encapsulation Plant.
Taylor Woodrow is also preferred bidder with French partner Vinci Environnement on planned energy for waste schemes in Hertfordshire and North Yorkshire.
He added: “A major opportunity lies in the Balfour Beatty/Vinci alliance formed to pursue opportunities associated with the HS2 project.”
