星空传媒

Fire safety remediation and redundancy costs helped keep Durkan firmly in the red last year as the firm said building safety delays were behind job cuts at its contracting business.

The firm said spending nearly 拢15m on fire safety and a further 拢680,000 on job losses at its contracting division meant pre-tax losses widened to 拢8.3m in the year to November 2024 from 拢4.6m last time.

Durkan said it made a 拢133,000 operating profit 鈥� before exceptional items 鈥� from a 拢3.8m operating loss in 2023. Turnover during the period fell 19% to 拢138m.

In its accounts filed at Companies House for Durkan鈥檚 contracting business, Durkan Ltd, the firm said that it was focussing on growing its recently launched regeneration business with the move leading to job losses at its contracting arm.

In a note accompanying its accounts, Durkan said it was 鈥渁ssess[ing] the commercial risks of its design and build contracting business鈥� because of 鈥渄elays in obtaining regulatory sign-offs under the 星空传媒 Safety Act, and a consequential slowdown in customer demand as Housing Associations and Local Authorities鈥�.

It added: 鈥淎ccordingly, the company is focussing on developing the regeneration business going forward, and whilst every effort is made to redeploy staff across the Durkan Group, there have been redundancies in contracting as projects complete and the division reduces in size.鈥�

Durkan, which operates across London and the Home Counties, has previously said the regeneration division will provide a one stop shop for a host of services including asset regeneration, planned maintenance, compliance services, including damp and mould, and fire remediation.

The business is being headed by managing director Dan Germann whose CV includes spells at Keepmoat Regeneration, Apollo Group and Equans UK.

Meanwhile, in accounts filed for Durkan Holdings, which includes the firm鈥檚 housing and regeneration arms, turnover was up 12% to 拢192m which the firm said was down to the performance of the two businesses.

Housing revenue was up 21% to 拢72m while income at the regen arm was up 30% to 拢22m.

In a note accompanying the accounts, chairman Daniel Durkan said it was likely 鈥渢he contracting division will reduce in size鈥� in the future.

Fire safety costs and provisions on legacy construction jobs meant pre-tax loses widened to 拢7.5m from 拢4m for the year to November 2024. Net cash at the year-end was up from 拢31m to 拢35m.