31st March 2009
Press release
VINCI PLC 2008 Results
In 2008, VINCI PLC achieved record turnover of £1.02 billion (2007 £778 million). Profit before tax remained largely unchanged at £16.2 million (2007 £17.8 million), after excluding one-off gains of £22.6 million in 2007 derived from asset sales and discontinued activities.
The 2008 result includes turnover of £207 million and a small net profit following the acquisition of Taylor Woodrow (the construction business) in September 2008.
Net cash at 31st December 2008, after dividends of £20 million and three acquisitions made for cash, was £137 million (2007 £152 million).
“At the beginning of this year, VINCI PLC reorganised its contracting activities by consolidating them within VINCI Construction UK Limited (formerly Norwest Holst Limited). The reorganisation, which combines Taylor Woodrow’s leading market position in key growth sectors of the industry with the regionalised building and civil engineering network of Norwest Holst, provides VINCI PLC with a national platform to perform all facets of construction and facilities services. In addition, VINCI PLC retains a strong position thanks to its balance sheet and cash holdings. We therefore believe the Company is well placed to ride out the current economic downturn.”
– John Stanion, Chairman & Chief Executive, VINCI PLC
For further information, please contact:
Melanie Mathews, Head of Corporate Communications, VINCI PLC on 01923 470435
03/31.03.09