Firm鈥檚 UK building division sees sales hike
Vinci鈥檚 decision to be more picky around which jobs it took on helped sales across its UK building division rise by 7% to 拢429m last year.
Towards the end of 2018, the French-owned group announced its UK construction arm would be taking 鈥�a more selective approach鈥� to taking on new business.
In accounts posted on Companies House, Vinci鈥檚 UK construction business said the hike in the division鈥檚 revenue was mainly the result of securing significant new work in the north west of England, including work starting at the Royal Blackburn hospital and the Patterson building at the Christie hospital in Withington, Manchester.
Vinci鈥檚 civils business, which trades under the Taylor Woodrow name, saw sales slip 23% to 拢165m, with the blame being laid squarely on delays to the start of HS2. Together with Balfour Beatty and transport planning consultancy Systra, Vinci is signed up to build one of HS2鈥檚 key stations, Old Oak Common, in west London (pictured).
The group鈥檚 operating profit last year rose 78% to 拢16m on turnover of 拢904m, while pre-tax profit rose 69% to 拢17m.
Its overall operating margin improved by six basis points to 1.8%.
In its outlook for 2020, Vinci warned uncertainties would remain around the manner of the UK鈥檚 Brexit deal negotiations.
The accounts, which were signed off on 5 March by chairman Jerome Stubler who took over from Bruno Dupety last year, made no reference to the coronavirus pandemic.
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