Taylor Woodrow division boosts Vinci17 April 2012
Vinci Construction UK announced turnover of GBP 1.11bn (USD 1.77bn) in 2011, up eight per cent on the previous year. The Taylor Woodrow civil engineering division’s existing building activities were largely credited for the growth.
Operating profits fell from GBP 28.4M (USD 45.3M) in 2010 to GBP 22.3M (USD 35.58M). According to Vinci, this was due to difficult market conditions. Net cash generated was GBP 3M (USD 4.79M) after PFI investments of GBP 15M (USD 23.9M). Dividends paid totaled GBP 5M (USD 7.98M) and cash balance increased from GBP 150M (USD 239.3M) last year to GBP 156M (USD 248.9M).
Chief executive of Vinci John Stanion, “In the current difficult economic climate, these are encouraging results.”