Challenging times ahead for new Pochin’s chief

CONSTRUCTION group Pochin’s said today that trading remains challenging as it revealed its new chief executive.

John Moss will take over at the helm from David Shaw who is retiring at the end of May. 

Mr Moss has vast experience in the construction and civil engineering industries having spent 14 years as a director of AMEC. During the past twelve months he has assisted Pochin’s on a number of projects.

The group said that its emphasis on cash management continues to have beneficial effects. In its construction division the forward order book remains reasonably healthy.

Chairman Richard Fildes said: “With direct costs under tight control, performance continues on budget notwithstanding the increasingly competitive market conditions.”

Meanwhile, its concrete pumping division is being affected by a further deterioration in its market, particularly in the Midlands and North with historically low levels of activity being experienced.

In the commercial property division, Mr Fildes said its investment portfolio remains substantially let with rental income being collected satisfactorily, while the group is focusing on realising investment in its homes division in a controlled manner.

He said: “Some progress has been achieved in the period at prices which are in line with expectations.”