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Tue September 21 2021

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Sisk results stay firm in 2020

27 Jul Financial results for John Sisk & Son Limited in 2020 show a modest drop in turnover but the business stayed firmly in profit despite the disruptions associated with the year.

John Sisk & Son chief executive Steve Bowcott
John Sisk & Son chief executive Steve Bowcott

John Sisk & Son’s turnover in 2020 was down 6% to £390.2m (2019: £417.9m). Gross profit was similar to 2019 but with an additional £2m of administrative expenses, pre-tax profit dropped to £2.8m (2019: £5.0m).

The company reports that it has a strong pipeline of new projects for 2021 and 2022 with both new and existing clients, as well as a strong capital structure with high levels of uncommitted cash and no bank debt.

Irish parent company Sicon Limited, active in the Republic of Ireland and mainland Europe, as well as the UK, generated turnover of €1.5bn (2019: €1.4bn) and made a profit before tax of €23.2m (2019: €30.9m).  It started 2021 with €273.2m of cash, up from €184m a year before.

John Sisk & Son chief executive Steve Bowcott said: “2020 was a year like no other. Thanks to all our people, for their commitment and hard work, which kept the business running and for managing through the shutdowns professionally and safely. Thanks also to our supply chain partners and other stakeholders for their support.

“Growth is continuing across our business in key sectors such as life sciences and data, in both the UK and across Europe as well as delivering much needed social housing through our Sisk Living division. Our new business pipeline remains strong in key target sectors and while there is some macroeconomic uncertainty, we believe we are well placed and will continue to win work.”

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