Jarvis pushes for expansion

Jarvis has promised to expand following a œ4.9 million pre-tax loss for the year to December 94.

The results - which included one month's trading under Paris Moayedi's new management team - were struck on turnover up 1.4% at œ71.8 million.

Operating losses accelerated from œ2.4 million to œ3.3 million. But chairman Roger Paynton said the performance was in line with the new business plan, which will see Jarvis develop away from traditional contracting and into management services and niche markets in education and health care.

Paynton said the board is committed to a policy of expansion, both geographical and in the range of services. As a first step, it was announced in April that the company had acquired the construction division of Shanks & McEwan.

Turnover is expected to grow significantly: œ56 million of orders have been promised or placed with Jarvis since the start of the year - 20% on a negotiated basis. The Shanks & McEwan buy will bring a further œ10 million.

Moayedi said: 'We are capable of considerably more turnover than we are doing now.'