PROFITS have collapsed at Barr and its board has yet to finish a sale of the Scottish construct ion business that it put on the market last year.
In the year to March 2005 Barr made a £455,000 pre-tax profit against £2.3 million in 2004 when chief executive Tony Rush sold non-core activities including Ayr United Football Club and an ice rink. In the first half of this financial year Barr, which had £350 million of orders, made a £1 million profit.
Mr Rush said: 'The turnover of our construction group is up over 50 per cent year-on-year in the first six months and is producing satisfactory margins. All other activities are reporting improvements on last year.'