P C Harrington frames arm makes £4.7m loss

Latest results for P C Harrington Group company HPC Frames show the reinforced concrete specialist racked-up losses of £4.7m.

Results filed recently at Companies House show a pre-tax loss of £4.76m at HPC Frames from turnover of £24.6m for the year to May 31 2018.

The company described the results as “very disappointing reading” and blamed the numbers on “onerous contracts”.

It said: “A combination of overly keen pricing and the consequences of over-trading were responsible for the lack of contribution from project activity.

“The consequences of attempting to build scale too quickly were also reflected in the sharp increase in overheads.”

HPC is part of the P C Harrington Group which also contains Slipform, Hevilifts and P&E Plant.

Its former largest division – PC Harrington Contractors Ltd – went into administration four years ago owing £28m.

The specialist post-tensioning division Structural Systems (UK) went into administration last month.

Original article: constructionenquirer.com

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