UK contracting makes œ3 million loss

Laing's contracting profits collapsed from œ11 million to œ2 million before interest in 1994. The HCI hospital cost the group dear, causing a œ3 million loss in a total UK contracting deficit of œ3.5 million. Things were brighter overseas, however with Middle East and South East Asia profits both showing healthy growth. Overall the construction division earned œ5 million in interest. Around 300 staff and 200 operatives lost their jobs during the year, leaving a workforce of 8,475 at the end of 1994.