11 Jan 2024 By <a href="https://www.constructionnews.co.uk/author/will-ing-2/" title="Posts by Will Ing" class="author url fn" rel="author">Will Ing</a>
Two companies that form envelope specialist Lindner Prater have posted a combined £39.3m pre-tax loss from a revenue of £105m
made a £30.5m loss from a revenue of £43.3m in 2022
while Linder Prater Ltd made an £8.8m loss from £61.8m turnover
according to recently-published company accounts
The separate companies are both ultimately owned by Lindner Group KG
an international manufacturer and facade contractor headquartered in Arnstorf
Lindner Prater Ltd and Prater Ltd were merged in April 2021
but were demerged in March 2022 as part of an “international group restructure”
Lindner Exteriors Holdings said its loss was “largely driven by significant cost increases on one large residential project” as well as a “provision made for remediation of a large facade project”
understood to be the £16.5m put aside by subsidiary Prater Ltd
the latter company subsequently recovered £9.5m in insurance proceeds for the remediation project after its financial year ended on 31 December 2022
Lindner Prater Ltd said it had made a provision of £10m against intra-group debt owed to it by Prater Ltd
“on the basis that recovery is highly unlikely”
it added that its £114m order book “remains strong” with business opportunities emerging on HS2 and in the nuclear
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