Parsons Brinckerhoff Holdings reports loss

A Newcastle-based investment holding company has reported a loss of £756,000 for the year ending December 31, 2012

The sum, which has been transferred to reserves, compares to a loss of £273,000 in 2011 for Parsons Brinckerhoff Holdings Ltd, an indirect subsidiary of Balfour Beatty plc, based at Newcastle Business Park.

The net book value of the company’s investments on December 31 was around £18.2m, compared to £19.7m in 2011, and included within ‘other operating income’ the company reported a gain of nearly £1.3m arising on the settlement of amounts owed by Parsons Brinckerhoff International Inc., the firm’s immediate parent.

A directors’ report said results were considered “satisfactory” and expected this level of activity to continue “in the foreseeable future”.

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