Bethell responded to downturn with job cuts
CONSTRUCTION and engineering group Bethell was forced to make redundancies last year following a “significant deterioration” in trading conditions.
According to newly-filed accounts the number of employees at the Manchester firm fell by 57% to 282 in the year to September 30.
Not all of these jobs were axed by the company – a large number of staff were transferred to Preston-based Enterprise when it bought Bethell Power Services for an undisclosed sum in July.
During the 12 months revenue slipped 61% to £30m, a decline which includes the loss of income from the power services disposal.
Income from continuing operations fell 32% to £27.7m. Bethell recorded a pre-tax loss of £1m, compared to a £1m profit last time.
The group’s construction arm, which specialises in civil engineering and the building of arenas, saw turnover fall 40% to £19.3m. It incurred a pre-tax loss of £500,000.
Turnover at the rail business, which handles rail infrastructure projects, more than halved to £8.4m due to the postponement and disruption of a number of contracts.
Chief executive and company owner Tim Kilroe said: “I expect that 2010 will be another difficult year of trading and our secured order book or £10m is a little lower than we would ideally like.”
He added: “We are anticipating that margins will remain depressed for a while due to the competitive environment but Bethell is fortunate to have an excellent reputation and track record and continues to secure a number of repeat, negotiated business opportunities. I am looking forward to being able to report an upturn in fortunes next year.”
