Yorkshire-based construction group Clugston has experienced a 39% fall in turnover to 拢86.7m for the year ending 31 January 2010.
In the previous year, the contractor posted record revenue of 拢141.7m.
Pre-tax profit also fell, from 拢2.8m to 拢1.5m.
The group put the blame on clients delaying or cancelling contracts.
Chairman John Clugston said: "It is our view that the medium-term economic climate will remain difficult with a double-dip recession remaining a distinct possibility.
"However, we will persist with our strategy of supporting our three core businesses by seeking opportunities which offer them long-term sustainable futures."
The group has three divisions: construction, which accounts for 70% of turnover, logistics, and property development.
Meanwhile, chief executive Stephen Martin will appear in a follow-up to . The programme will be screened on 2 September.聽
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