NuGen Properties

Bouygues UK posts £42m loss

Bouygues UK made a pre-tax loss of £41.9m in the year to 31st December 2022 on turnover of £382.6m. By comparison, in 2021 it had made a profit of £835,000 on turnover of £483.6m.

Operating loss for 2022 was £46.2m (2021: £1.5m profit).

Finance director Jean Luc Midena blamed the loss on “cost increases due to inflation, availability of labour, the conflict in Ukraine and the risk of post completion liabilities arising from recent legislative changes relating to building safety.”

He added: “Subcontractors continued to be impacted during the year in regard to delivery of services as a result of challenging market conditions. There was a small number of failures of subcontractors working for the company during the year. The company had carried out reviews of subcontractors to ensure their ability to complete works in line with their contractual requirements and had business continuity plans in place which were implemented to ensure that works were able to continue. Cost forecasts were revised accordingly.”

During the year the French-owned  building contractor issued additional share capital of £47m, leading to an increase in total equity to £29m (2021: £18m). The cash position of the company at the end of the year was £174m.

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Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.