HBG "will not hesitate to buy"

Dutch contractor Hollandsche Beton Groep (HBG) said this week it wants to strengthen its UK presence with the purchase of another construction group.

HBG currently owns Nuttall, Kyle Stewart and Glasgow building company GA. Latest interim results (six months to June) from HBG, published on Tuesday, show that the UK contributed œ230 million of HGB's total œ1 billion turnover. No interim profitability details are available, although HBG said margins in the UK are thin.

A company spokesman said only: "UK margins are smaller than elsewhere but we are satisfied: We did as well, relatively, as other UK contractors."

Poor margins have not prompted HBG to consider withdrawing from the UK - quite the opposite. "We regard the UK as our home market," said the spokesman.

"If there are possibilities for acquisitions, especially in building, we'd not hesitate to enlarge and strengthen. There is nothing in the pipeline right now, but we are constantly talking with people."

HBG's 1995 annual results showed that Nuttall made a profit after tax of œ3.6 million. Kyle Stewart contributed œ300,000, with a further œ200,000 coming from GA.