Irish building firm in the red

THE Irish arm of construction and engineering giant Laing O’Rourke went into the red last year as revenues plunged and its workforce was cut by over half.

In accounts just filed with the Companies Office by Laing O’Rourke Ireland Ltd, they show that revenues at the company last year dropped 75.7% from €103.6m to €25.1m to the end of March 2010.

The figures show that the company made a pre-tax loss of €1m following the company recording a pre-tax profit of €2.8m in 2009.