Lindner Facades racks-up another £4.8m loss

Grant Prior 8 years ago

Curtain walling specialist Lindner Facades is targeting a turnover of £50m next year.

The prediction comes despite problem contracts pushing the specialist into the red again during 2015.

Lindner racked-up a pre-tax loss of £4,855,116 for the year to December 31 2015 following a £7,365,268 loss in 2014.

The company said the losses were “due to problems on a contract in Saudi Arabia”.

Turnover in 2015 hit £37m and Lindner is looking to grow that to £50m by 2017.

Lindner has landed a £24.5m deal for the complete cladding of a 50-storey resi tower at the Principal Place development in the City of London from Multiplex.

The package is set to start next year and is Lindner’s third win on the site.

Richard Unwin, CEO of the Lindner Group UK, said: “Lindner Facades Ltd was restructured in 2014 to serve only the UK market.

“Since that date the UK team headed by Mark English (the Managing Director) has achieved two consecutive years of profit as well as achieving the targeted growth aspirations set.

“2016 will see this achievement strengthen further with a strong order book and a UK result which underlines the strategy for Lindner Facades as a significant force within the UK unitised market.

“The headline losses are solely attributable to a Middle East project which is nearing completion, however it will likely have an impact upon the 2016 result as it has in the previous two years.

“2017 will see our best ever sales position and it is anticipated that this will result in a strong financial achievement.

“Projects secured this year to support turnover in 2017/2018 include Principal Place Residential Tower for Multiplex , 1 Bank Street for Canary Wharf Contractors and 207 Old Street for Skanska, which collectively contribute in excess of £70 million.

“The UK therefore continues to out perform its targets and benefits from close interaction from its two sister UK companies (Prater and Lindner Interiors Ltd).”

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