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SSE Contracting profit down on increased turnover

28 Oct 11 Utility specialist SSE Contracting has posted a reduced profit of £30.1m in its latest results, for the year ended 31 March 2011, down from £38.1m.

Turnover was up slightly at £469.2m from £460.3m.

SSE Contracting, which recently changed its name from Southern Electric Contracting, provides mechanical and electrical services across a range of markets and is the UK's largest street-lighting contractor.

The contractor is a wholly owned subsidiary of Scottish & Southern Energy.

SSE Contracting's order book shrunk to £98.3m by the end of the year, a fall of £16.9m on the previous year, reflecting “the economic uncertainty in the UK”.

During the year, the firm's JV with Interserve Defence, PRIDE, signed a £108m, two-year extension to its south east regional prime contract. The contract will now run until 2014.

SSE Contracting also secured new business from Frimley Park Hospital and the Dartford Tunnel, and a 25-year contract with Knowsley Metropolitan Borough Council to replace or maintain 24,000 lighting units, bollards, and traffic signs.

The contractor said with public sector budgets under pressure, it was “encouraged by the increasing number of enquiries from the private sector”.

It added that the structure of the business was “under review” with “some rationalisation of depots being undertaken”.

SSE Contracting has street-lighting contracts with 24 UK local authorities, a further 12 under private finance arrangements, and 28 in the Republic of Ireland. In total, it maintains almost 1.5m street-lighting units.

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