Higgs & Hill warns on profits
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The construction group Higgs & Hill said it expected to make between 40 to 50 redundancies in its construction division as part of a big overhaul of its building operations, writes Magnus Grimond.
The group, which employs around 800 in its contracting and construction arm, will also make a pounds 2.5m provision to cover the cost of the reorganisation which will also include some offices closures. In addition, the group is to make a pounds 3.5m provision against a contract at Guy's Hospital after further delays on the project.
The news came as Higgs & Hill said full-year profits for 1995 were likely to fall below expectations as a result of the continuing difficulties in the group's markets. The company said it expected the trading results to be around break even for the year, as against market forecasts of around pounds 1.3m. Next year should see the benefits of restructuring show through in the figures, Higgs said.
Although reasonably optimistic about the prospects, "a lot will depend on how much work is pushed through from the Government's private finance initiative", according to John Theakston, chief executive.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments