Contractor John Sisk & Son suffered almost £18m in losses in its UK division in 2015, according to its latest results.
The firm lost £17.8m before tax in 2015 on the back of poor performance of a number of contacts in its UK South division, compared with a £860,000 profit in 2014. The company was hit after problems arose on several big contracts.
Sisk, which has operated in the UK for more than 30 years, also blamed record levels of supply chain price inflation which has adversely impacted its construction programmes. The company remains positive, however, that it can return to profit this year and has taken steps to restructure its UK South operations.
Commercial director John Dennehy said: “A significant restructuring operation has since been undertaken with the expectation that the company will return to profit in 2016.”
Former Kier chief operating officer Steve Bowcott was brought in as managing director in July 2015 in place of Gary Crabtree.
