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The UK arm of engineering giant Bechtel has reported a 拢2.3m pre-tax loss in its latest results, for the year to 31 December 2016.

In 2015, the firm made a profit before tax of 拢56.4m, though this was boosted by 拢40.9m of income from shares in subsidiaries.

Turnover last year was down marginally at 拢247.2m (2015: 拢248.9m).

Bechtel said the loss was 鈥渕ainly due to the company providing for expected losses on a number of ongoing projects and receiving less overhead recoveries from other Bechtel entities in 2016鈥�.

The company said it 鈥渆xpected to be profitable in the foreseeable future鈥� due to ongoing projects, a balance sheet with zero debt, and a cash deposit of 拢33.8m held with a subsidiary of its parent.

Bechtel鈥檚 UK-based business operates globally, providing design, engineering, construction and project management services.

High-profile projects Bechtel is currently working on include Crossrail (pictured) and the Wylfa Newydd nuclear plant on the Isle of Anglesey.

It was also recently the 拢170m contract, phase 2B contract on HS2 after original preferred bidder CH2M pulled out of the race in March. The deal hit the headlines after another bidder, Mace, queried the decision to award the scheme to CH2M and threatened legal action over the award.