Pochin's has reduced staff numbers from 429 to 317 since May 2008 but said its action to slash overheads would help it through current difficult trading conditions.
The group, based in Middlewich, saw turnover during the year to May 31 tumble 11.5 per cent, from £115m to £102m.
Pochin's losses - compared with profits of £1.8m in the previous 12 months - were largely due to property value writedowns, although its concrete pumping and residential divisions posted large deficits.
Chief executive John Moss said Pochin's had endured a `difficult year' but took action to ensure the firm remained competitive and well positioned for when markets recovered.
The group's construction arm was a bright spot, with profits up from £300,000 to £1.1m. New contracts included work to create a distribution centre at Widnes for Stobart Group, Morson International's new headquarters in Eccles and the Welsh Assembly Government office scheme at Llandudno Junction.
The division also gained contracts in the education sector and worked on apartment and office schemes in Salford Quays, Crewe and Liverpool.
Chairman Richard Fildes said: "It is likely that the group will be operating in subdued market conditions for the foreseeable future."
Shares in Pochin's slid 12 per cent, or 15p, to 110p after the update, wiping £3.12m off its market value of £26m.
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