John Mowlem has rejected calls from SGB to sell its 51% stake in the scaffolding business.
SGB believes it would benefit from Mowlem’s departure because it would improve liquidity and attract a broader base of investors. Mowlem reported annual pretax profits of £39.4m up from a £12.4m loss in 1997. Turnover rose 6.7% to £1.5bn.
Trains have started to run on a trial basis on the new extension of the London Docklands Light Railway to Lewisham which Mowlem has constructed.
Financial Times 11/03/99 page 23
The Daily Telegraph 11/03/99 page 38
The Times 11/03/99 page 28, page 30 (Tempus)
