CONSTRUCTION services group Owen Pugh has hailed Nissan's decision to manufacture its Leaf electric car and batteries on Wearside for the shot in the arm it has provided for the region's building sector.
Work on the site at Washington plus factories in Nissan’s supply chain are providing valuable contracts for the sector, the Cramlington-based business said.
Owen Pugh, which specialises in construction plant hire, earth-moving and demolition and also works in land remediation and reclamation, quarrying, drainage and small-scale civil engineering, increased its turnover despite a ‘challenging’ market.
The group, which has 305 staff and five trading companies, said its overall turnover rose by 18% to £24m in the year to the end of March. The just-published results showed an 11% rise on a like-for-like basis, while pre-tax profits were up by a third to £635,142.
Chairman John Dickson said: “Conditions in the construction industry in the North East were extremely challenging throughout the year and made worse by an extended spell of extreme weather at the end of 2010. Under the circumstances we are very pleased with the results.
“Over the last four years, construction output in the North East has declined by a total of 35%, employment in the industry has fallen 20% and output prices have fallen by over 7%. It is to the credit of all our employees that we continue to grow in these economic conditions.”
