Jarvis cuts losses to £14m in spite of slow trading

# Spirax-Sarco Engineering

Jarvis unveiled a third annual loss yesterday, this time of £14.1m, despite having massively scaled down the engineering business once claimed to be the country's biggest.

Jarvis unveiled a third annual loss yesterday, this time of £14.1m, despite having massively scaled down the engineering business once claimed to be the country's biggest.

Jarvis, whose executive chairman is the former Tory transport minister Steven Norris, underwent a financial rescue after a turbulent period triggered partly by its role in the Potters Bar rail crash and in PFI contracts. It admitted trading in the year had been slow but said strategic milestones had been hit.

The £14.1m deficit compared with a £59.1m loss for the previous year and almost £400m two years ago.

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Terry Macalister

The GuardianTramp

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