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Leadbitter plays down parent’s losses

The chairman of Leadbitter’s parent company has resigned after the firm was hit by falling house sales and problems at its roads division in its home market of Holland.

Guus Hoefsloot quit his post at Heijmanns after the firm announced that its projected profit after tax was 50 million euros (£40 million) - down from 56 million euros (£44.5 million) last year.

The firm blamed problems at its property development arm and difficulties at its building divisions in Holland and Belgium.

It added that its operating result in its infrastructure division was down one-fifth “as a result of persisting poor price levels in the road construction market”.

Leadbitter group chief executive Bob Rendell said he was disappointed that Mr Hoefsloot had gone but added: “I remain confident that the Heijmanns Group as a whole is robust and diverse enough to positively overcome its current situation.”

Leadbitter, which includes Denne Construction, saw pre-tax profits balloon 70 per cent to £9.2 million on a turnover up 40 per cent to £263 million.