O’Keefe forecasts 12% revenue fall due to Brexit

South East groundworks and concrete contractor O’Keefe Construction is predicting that Brexit project delays will hit revenues by around 12% this year.

The firm warned that market conditions had hardened with projects being delayed and cancelled.

Reporting stable pretax profit of £2.3m on revenue up 8% to £82m last year, the London-based firm warned it was forecasting a revenue drop in 2019.

Patrick O’Keefe, chief executive, said: “We believe that once political certainty is reached, these opportunities will once again go live and turnover levels will return to a level of controlled growth,but as always, we continue to focus on strong financial management of the company.”

Over the year the staff headcount rose to near 200.

From http://www.constructionenquirer.com/2019/03/05/okeefe-forecasts-12-revenue-fall-due-to-brexit/

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Author: Ebenal Construction

Ebenal Construction is the process of constructing a building or infrastructure.Construction differs from manufacturing in that manufacturing typically involves mass production of similar items without a designated purchaser, while construction typically takes place on location for a known client.