Pre-tax profit at German owned-contractor Hochtief UK Construction fell 59% from 拢1.6m to 拢665,000 in the year to 31 December 2008

Turnover at the company was up 7% from 拢43.2m to 拢46.3m. A spokesperson for Hochtief said it had saved 拢1.3m during the year as a result of a cost reduction programme. The salary of the highest paid director fell by 拢2,000 to 拢113,000 and its cash balance at the year end rose 38% to 拢13.1m.

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