LONDON (Alliance News) - J Smart & Co Contractors PLC Friday warned that a headline loss and underlying loss are "definite possibilities" for the full year, as potential property write downs and the effect of reducing contracting revenue will combine to "depress" year-end figures.
In an interim management statement for the period from February 1 to date, the building and civil engineering contracting business said that although contracting operations has started to gear up again, this will be too late to ameliorate the reduction in revenue for the current year highlighted in its last annual report.
J Smart said residential sales have remained buoyant in 2014, although margins have been "poor", while the small industrial units market remains healthy.
However, despite genuine increased interest and its first tenant at Inchwood Business Park in Bathgate, lettings of recently completed commercial and industrial space have proved difficult, it said.
J Smart & Co shares were down 2.1% at 99.35 pence Friday.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Smart (J) & Co (SMJ)