Pre-tax profit at German owned-contractor Hochtief UK Construction fell 59% from Β£1.6m to Β£665,000 in the year to 31 December 2008
Turnover at the company was up 7% from Β£43.2m to Β£46.3m. A spokesperson for Hochtief said it had saved Β£1.3m during the year as a result of a cost reduction programme. The salary of the highest paid director fell by Β£2,000 to Β£113,000 and its cash balance at the year end rose 38% to Β£13.1m.
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