Pochin’s construction division suffered in February and March from with the start dates of a number of new contracts being delayed. April has seen “a more normal level of operation” but not at a high enough level to recover the lost turnover before the end of the company's financial year on 31 May.
Losses continue in the concrete pumping division, the company said, with weak demand and high fuel prices blamed. It added that “tight cost controls are containing the losses within budget”.
An interim management statement form the company concluded: “Overall, the group's position remains stable in subdued market conditions and some encouragement may be taken from the recently increased level of activity in the Construction division.”
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