Shares in Pochins in Middlewich fall as company struggles in the recession (From Middlewich Guardian)

Shares in Pochins in Middlewich fall as company struggles in the recession

3:00pm Thursday 4th February 2010

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SHARES in a major Middlewich company have dived by nearly 12 per cent.

Pochin's, the construction and property group based in Brooks Lane, has announced pre-tax losses of £4.4million for the six months up to November 30.

Revenues were also down from £49.9million to £47.5million.

Chairman Richard Fildes said: “After such a dramatic collapse in the values of commercial property combined with the well-publicised contraction in available credit for the industry, it is difficult to forecast an early return to the levels of development and construction activity of two years ago.

“Nevertheless, some improvement is perceptible and Pochin's remains well-placed to benefit from it.”

Company costs are currently under tight control and further reductions in overheads are being considered.

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