Laing O’Rourke cuts staff and returns to profitability

THE Irish arm of construction and engineering giant Laing O’Rourke returned to profitability last year as numbers employed at the firm almost halved.

Accounts just filed with the Companies Office by Laing O’Rourke Ireland Ltd show that the company recorded a pre-tax profit of €1.2 million in the 12 months to the end of March 31 last year after recording a pre-tax loss of €1m in fiscal 2010.

The return to profit occurred after revenues decreased by 36% from €25.1m to €16.1m.