Holding company Sicon returns to profitability

Sicon — the holding company for the Sisk group’s construction assets — has returned to profitability in its latest financial year.

When it posted its 2011 accounts — which showed a €153.6m pre-tax loss on the back of the high profile failure of the company’s Polish road building projects — Sicon said that the 2012 accounts would show a return to profitability.

Figures, published yesterday, show that Sicon generated pre-tax profits of €14m last year, with operating profits of €2.5m being realised after a preceding year which showed an operating loss of €105m.