Fitzpatrick's profit margin makes a healthy recovery

Fitzpatrick Contractors has got its profit margin back on track. The latest figure of 2.6%, covering the latest financial year, is well ahead of the lowly 1.1% margin in 2005.

Fitzpatrick also enjoyed a surge in turnover to £360m (12 months to 31 December 2006), representing a rise of £110m over 2005 when turnover ran to £250m.

It is part of Volker Wessels, the Dutch conglomerate.

Chairman Andries de Jong said: "The result is impressive as some of the operations, notably civil engin-eering, are operating in difficult markets."

He lists two highlights as winning the Ashford and Ramsgate train depot contracts. They are the largest-ever for Fitzpatrick and both are proceeding well, said de Jong.

The main disappointment was Fitzpatrick's unsuccessful re-bid for its term maintenance contract with Transport for London, "which was lost by a surprising margin".

However, some of the workload has been replaced as a result of wins with West Berkshire Council and the London Borough of Enfield.