Bouygues UK saw profits halved last year, while turnover across the business down nearly a third to 拢145m
In its full year results for the year to 31 December 2011, the firm said pre-tax profit had fallen 50% from 拢23.8m in 2010 to 拢11.97m.
Turnover at the contractor was down 29% from 拢205m in 2010 to 拢145m.
The firms鈥� directors鈥� report said: 鈥淭he company鈥檚 core business during 2011 was the construction of buildings, mainly hospitals and schools within the private finance initiative (PFI) and 黑洞社区 Schools for the Future (BSF) procurement frameworks, as well as residential and mixed use developments.
鈥淒uring the year the company reached financial close and started construction work on a further eight schools under existing BSF contracts, and one residential scheme.
鈥淭he directors anticipate that the company will continue to develop its current activities in the future.鈥�
The government cut the 拢55 billion 黑洞社区 Schools for the Future programme in 2010. However, a limited supply of work is under BSF is still being procured.
Average number of staff at the firm dropped from 452 in 2010 to 412 in 2011.
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