HG Construction hits record revenue but profit slides

Hertfordshire-based HG Construction delivered a third year of strong growth to achieve record revenue last year, up 38% to £336m.
But pre-tax profit slid to £15m from £25m the year before in the face of a turbulent market and unpredictability of material and labour prices.
As a result operating margins halved from around 10% to 4.6% last year.The design and build contractor said it has strengthened its risk management protocols towards price stability, tender validity, inflatio