Colas set to return to profit this year

The winning of three new National Highways contracts this year have contributed towards Colas returning to profit this year.

The latest results for the UK business for the year to December 31 2020 show a pre-tax loss of £2.7m compared to £1m last time as turnover dropped from £262m to £229.8m due to lockdown.

Colas has restructured over the last three years and since the start of 2021 “has seen a very positive upturn in business.”

The firm said the support of its parent company Colas SA gives Colas Ltd a “largely unrivalled position and it remains confident that it is well placed to capitalise on the significant market opportunities, and to achieve its ambitious growth plans,” reports Construction Enquirer.

Carl Fergusson, CEO Colas Ltd said:  “Whilst there is no doubt that like most companies the global pandemic hit Colas in 2020, the diversity of our business enabled us to minimise the disruption and bounce back quickly.

“We have seen much of our strategic plan develop into success during 2021, and the support that the Colas Group brings to our business enables us to deliver an exciting vision for Colas in the UK. I am confident that our growth plans will see us working with many more clients throughout the UK in the coming months and years.”

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