Laing O’Rourke has lost £206 million (US$ 268.87 million) on Central hospital (Centre Hospitalier de l’Université de Montréal (CHUM)) project in Montreal. The firm is in JV with OHL for the development and maintenance of the 22 story hospital with over 349,000m² floorspace and 772 single-bed rooms, together with a new energy centre.

The losses are due to racked up  £26.4m (US$ 34.45 million) hit on the scheme in the year to March 2018. This and the cost of completing the refinancing of the UK business helped send Laing O’Rourke tumbling to a £43.6m (US$ 56.90 million) pre-tax loss last year.  The firm pulled out of bidding PFI deals more than two years ago after its chastening in Canada and on several schemes in the UK. The firm sold its stake in the CHUM project for £32m (US$ 41.76 million) during the period and has since sold a stake in a PFI hospital scheme in Dumfries & Galloway for £16.5m (US$ 21.53 million).