Bachy Soletanche nearly doubles turnover


Geotechnical and ground engineering business Bachy Soletanche (Europe) has nearly doubled its revenue due to works on two major infrastructure projects.  

Credit: Bachy Soletanche.

Turnover for the year ended 31 December 2022 increased 90.5 per cent from £116.3 million in FY2021 to £221.6 million, mainly due to two big contracts on HS2. 

This also resulted in a £3.9 million increase in operating profit (FY2022: £8.2 million; FY2021: £4.3 million), bolstered by increased activity on the Thames Tideway project. 

Profit before tax was £8 million (FY2021: £4.2 million), while profit for the year was £6.8 million (FY2021: £3.6 million). 

The group’s cash position was reported at £34.1 million, compared to nearly £16 million in the prior financial period.  

Net assets and shareholder funds increased by £6.9 million to £22.6 million (FY2021: £15.7 million).  

Group directors did not recommend a dividend (FY2021: £100,000).  

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