Volker Wessels UK has experienced a 19% fall in turnover to 拢190m for the first six months of the year.
The Dutch construction group's UK business delivered turnover of 拢235m in the first half of 2009, and 拢429m for the full year.
CEO Gerard van de Aast said that the restructuring of Volker Wessels in the UK, a process that began last year, was 鈥渟tarting to bear fruit鈥�.
鈥淥ur companies work together increasingly closely and are consequently better able to operate effectively under difficult market conditions,鈥� he said. 鈥淒espite shrinking government budgets, Volker Wessels UK鈥檚 order book comprises many good quality projects.
鈥淰辞濒办别谤 Highways achieved good results in road maintenance in the first six months of the year. In the second half of the year, Volker Fitzpatrick commences a number of large construction projects and civil works.鈥�
Volker Wessels, through its subsidiary Volker Laser, acquired waterproofing and concrete repairs contractor Quickseal during the reporting period.
Total revenue across the whole group for the first six months of 2010 was 拢1.59bn (H1 2009: 拢1.67bn). Profit before interest, depreciation, amortisation and tax (EBITDA) for the period was 拢53.7m (H1 2009: 拢57.1m).
"Despite the current recession in the construction sector, we performed as anticipated in the first six months of 2010", said van de Aast.
"Most VolkerWessels companies succeeded in achieving results in line with expectations. While our companies operating in housing and railways face particularly difficult market conditions, there are also opportunities for our companies that build infrastructure, energy, water and communications networks.
鈥淭he spread of our activities means that we also perform relatively well in difficult times. We shall continue to focus on providing high quality, sustainable solutions for our clients. We expect slightly lower operating revenues in 2010 as a whole, with an EBITDA in line with 2009."
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