黑洞社区

Roofing and facade firm Prater says it has recovered 拢9.5m in insurance claims after being asked to carry out repair work on a 鈥渓arge fa莽ade contract鈥�, the firm鈥檚 latest accounts reveal.

The firm did not name the job but in 2021 黑洞社区 revealed that a flagship building built by Mace for broadcaster Sky in west London was having to be repaired because of a leaking roof.

Prater was the original roofing contractor on the scheme but the flat roof of the 41,000 sq m building ended up being plagued by a series of leaks.

Prater also revealed that contract provisions at the end of 2022 stood at 拢16.9m which it said were for 鈥渙nerous contracts expected to be settled over the next two years鈥�.

In the latest accounts, signed off five days before Christmas, the firm revealed it racked up a loss of 拢28m in the year to December 2022 which it said also included 鈥渟ignificant cost increases on one large residential project鈥�.

Prater did not name the job but last summer it left the Lewisham Gateway scheme, a 拢200m deal being carried out by Balfour Beatty to build 600 flats in south-east London.

Turnover in 2022 was down a third to 拢31.5m with the firm sinking 拢28m into the red from a 拢2m pre-tax profit in 2021.

Prater was merged into sister firm Lindner Prater, which has been owned by German firm Lindner since it bought Prater in 2011, nearly three years ago with turnover at Linder Prater up three-quarters to 拢62m in the year to December 2022.

But the firm stayed in the red, marginally narrowing pre-tax losses from nearly 拢9m to 拢8.8m. It said operating profit before exceptional items was 拢1.3m. Linder Prater said the exceptional item of 拢10m was for 鈥渋rrecoverable intra group debt鈥�.

In the accounts, also signed off five days before Christmas, the firm said its order book for 2023 and beyond was 拢114m.