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Fri April 16 2021

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Sisk grows revenue 24% but margins stay tight

26 Oct 15 John Sisk increased revenue by almost a quarter in the year to 31 December 2014, but margins remain wafer-thin.

The contractor posted turnover of £343.8m, compared to £277.7m for 2013.

Profit before tax crept up from £1.3m to £1.6m, a margin of just 0.5%.

In its annual report, Sisk said it had improved its gross margin during the year, “achieving 4.5% in comparison to 2.3% in 2013”.

“The company has a very strong order book for 2015 and has secured significant repeat business with a number of existing clients,” it added.

In July, Sisk appointed former Kier chief operating officer Steve Bowcott as managing director.

In September, the contractor announced it had reached agreement with Shangri La Hotels in the dispute over its contract at the Shard in London.

A statement said: "John Sisk & Son Limited and Shangri-La Hotels PTE Limited wish to confirm that they have reached an amicable settlement to the claims and counterclaims recently issued in the Technology and Construction Court in London relating to the Shangri-La Hotel at The Shard.

"There are no admissions of fault or liability by either party in the settlement reached."

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