Good to see the parent company of our highways PFI contractor, French-owned (and Luxenbourg-based) Eurovia UK Ltd is doing so well.
Insider Media are reporting that, “Higher levels of turnover from joint ventures and the beginning of new contracts have helped push full-year revenue past the £600m mark at transport infrastructure services giant Eurovia UK.”
Increase revenue but operating loss
Despite the 40.6 per cent rise in revenue, a rather large increase in admin costs has resulted in a group operating loss of £6.2m.
Eurovia’s chief executive, Scott Wardrop, said,
“All parts of the business continued to focus on cost reductions, efficiency improvements and value enhancement during the year which enabled many of our businesses to report improved results.
“However, this has been offset against the significant costs involved in mobilising the new contracts that commenced in 2012 and 2013 respectively, which has resulted in the group result, before those of the joint ventures, reporting a loss for the year.”
More
For those interested, read the full article.
Image: © Tax Brackets
