Pochin’s order book ‘healthy’ despite downturn

CHESHIRE construction group Pochin’s has started the year with a “healthy” order book despite the depressed property market.

In an interim management statement for the period since January 31, the Middlewich group said construction activity was continuing to contract, albeit at a slower rate.

Against this backdrop it is still winning new business but conceded the market remains highly competitive.

The group said its commercial property portfolio continues to achieve high occupancy rates and rental income remains steady, but it admitted the market showed little sign of improvement, with transaction levels low and “values correspondingly uncertain.”

It said: “The group is benefiting from its concentration on the two remaining core activities. It remains true, however, that any significant improvement in the group’s performance is dependent on improved conditions in both the construction and commercial property markets.”