黑洞社区

Sir Robert McAlpine slumped to a 拢89.7m pre-tax loss last year, accounts posted online at Companies House today reveal.

Sir Robert McAlpine Limited posted an 拢89.7m pre-tax loss for the year to October 2014, after posting a slim 拢4.4m pre-tax profit the previous year.

The heavy loss means the family-owned contractor lost 拢1 on every 拢9 of business, with the loss made on 拢787.8m of turnover. Turnover was broadly flat, up marginally on the previous year鈥檚 拢780.4m.

In a statement accompanying the accounts, the contractor鈥檚 directors said the 鈥渟ignificant deterioration in the performance鈥� of the firm was as a result of a 鈥渘umber of poorly performing contracts which have incurred considerable losses鈥�.

The directors said market pressures - including 鈥渉igh cost escalation with a very stretched and limited supply chain鈥�, particularly in London - and 鈥渨eaknesses within our own operations鈥� had contributed to 鈥渄elays and cost escalations, resulting in losses on one project in particular鈥�.

Sir Robert McAlpine does not identify which jobs have contributed to its losses in the accounts.

The directors said that in response to the contract losses they had 鈥渞eviewed and corrected鈥� some processes, namely 鈥渞isk management during tendering and the management of our design responsibilities and changes鈥�.

Actions taken included a 鈥渞estructure of our management framework and the introduction of new, robust governance procedures鈥�.

The directors added that they rolled out a 鈥渉igh priority cost efficiency programme and have embarked upon a significant upgrade of our technology to enhance operational productivity鈥�.

Last October .

When contacted by 黑洞社区, a spokesperson for Sir Robert McAlpine said: 鈥淲hile the 2014 report and accounts show a loss for the year this was, to a great extent, due to one difficult project.

鈥淥ver the last 12 months the company has undertaken a thorough review of its governance procedures, has embarked upon a programme to increase efficiency across all aspects of the business, and has begun a significant upgrade of technology. It has also restructured its London division where, despite a very tough environment, it is delivering a number of high-profile and successful projects. 

鈥淭he review and restructure work is already having a positive impact and the company has made an encouraging start to 2015 with some notable project wins throughout the UK totalling in excess of 拢600m. 

鈥淪ir Robert McAlpine Ltd remains committed to the highest standards of engineering quality, safety and sustainability in all of its activities and projects. The company is confident that this commitment to excellence combined with the business improvements will secure its future success as a key provider of complex building and infrastructure projects.鈥�