VINCI PLC has achieved turnover of £1.11 billion for 2011 an 8% increase on 2010 (£1.03bn) entirely arising from growth in existing activities; principally the Taylor Woodrow Division in civil engineering and strengthening of our market share in the Building Division as well as a solid performance over the year by VINCI Facilities.
Operating profits before exceptional items fell slightly to £22.3 million (2010 £28.4 million) representing a good performance in the continuing difficult market conditions.
Net cash generation of £3 million (after PFI investments of £15 million (2010 £3 million) and dividends paid of £5 million (2010 £11 million)) increased cash balances at the year end to £156 million up from £150 million in 2010.
John Stanion, Chief Executive - VINCI PLC said on the results:
“In the current difficult economic climate, these are encouraging results, we are confident that the combination of our financial strength, market leading positions and our company heritage will ensure our continuing success in 2012 and beyond.”