French giant Vinci鈥檚 UK subsidiary generated revenue for 2017 of 拢855.1m (2016 拢931.7m). Gross profit of 拢36.0m was substantially outweighed by administrative expenses of 拢54.4m, but thanks to Vinci St Modwen joint venture selling some land on its New Covent Garden Market site, pre-tax profit came out at 拢20.5m, compared to 拢2.8m in 2016. Vinci made 拢35m in 2017 from its share of VSM (NCGM) Ltd.
Vinci鈥檚 problems are in the Civil Engineering division (Taylor Woodrow) which, thanks to the Nottingham tram project, made operating losses of 拢17.7m in 2017 and 拢12.6m in 2016. Turnover shrank to 拢205m in 2017 (2016: 拢269m).
Excluding the legacy Nottingham tram project, the Civil Engineering division made an operating profit of 拢1.2m.
The Building division鈥檚 turnover in the UK increased 3.7% to 拢422m (2016: 407m) and contributed an operating profit of 拢6.5m.
Vinci Facilities turnover in the UK slipped to 拢224m (2016: 拢235m) and contributed 拢5.2m operating profit.
Chairman Bruno Dupety described 2017 as 鈥渁 fair year for the group鈥�. Net positive cash improved to 拢228m at year-end and order book at the start of 2018 stood at 拢925m.
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