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Vinci doubles pre-tax profit

Vinci has more than doubled pre-tax profit despite a fall in turnover.

The contractor revealed pre-tax profit of £39.1 million for 2010, up from £15.4m the previous year. Vinci saw turnover drop from £1.16 billion to £1.03bn over the same period.

The firm ended the year with a cash balance of £150m.

In a statement, it said: “We are confident the combination of our financial strength, market leading positions and company heritage will ensure our continuing success despite the challenging times we continue to operate in.”

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