Farrans Posts £36m Loss as Legacy Contracts Bite

By Amara Osei

Farrans recorded a £36m pre-tax loss after taking fresh provisions on legacy contracts — in the same year Sisk bought the Belfast-based building and civil engineering contractor.

The numbers move fast when they move. A £3.2m profit the previous year became a £36m hole. Turnover fell 22% to £298m. Legacy jobs, evidently, don't retire quietly.

Directors were blunt in their account: "During the year, additional provisions were taken against a number of legacy contracts."

Who owns Farrans now?

Sisk bought the business on 31 October 2025 from global giant CRH. The deal also changed paperwork: the registered name switched from Northstone (NI) Limited to Farrans Limited.

The new owner has pledged ongoing support. Farrans can draw on the group's cash pooling arrangements to meet its funding needs — which, after a £36m loss, it presumably will.

What does Sisk ownership change?

Farrans expects the acquisition to strengthen its market access and open up investment opportunities. Directors also expect the 2026 trading year to end "on a positive note", despite continued tough market conditions.

Behind that optimism sits a strong framework pipeline across the UK and Ireland, which the company says supports its growth plans.

Demand, according to the directors, remains positive across:

• water
• energy
• aviation
• transportation
• marine
• public sector projects

The year-end order book provides good visibility of future revenue. In construction accounting, visibility is worth roughly what you can bill against it.

So what?

A 22% revenue slide and a £36m loss would sink an unsupported contractor. With Sisk's balance sheet and cash pooling behind it, Farrans gets what most distressed firms don't: a second act, pending proof the legacy contracts are done claiming their share.