AWG profit hit by £2.5m Rockingham charge

Profit from AWG's construction arm has been dented by a £2.5m hit relating to remedial work at the Rockingham oval race track in Corby.

The circuit's owners went to adjudication with AWG Construction Services and won last month. As a result, rectification work is necessary, amounting to £2.5m.

The hit pegged back the performance of AWG's infrastructure management business (the division Construction Services is part of). The division fell back from an operating profit of £3m in the six months to 30 September 2002 to an operating loss of £1.8m in the current half.

The division's turnover was down from £494.6m to £468.2m, caused by a £56m drop from Developments and Commercial Services.

Bid costs increased significantly during the half from £3m in the year-ago period to £5.6m.