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Private business: Beetham Organisation cuts losses to pounds 600k.

THE Liverpool-based Beetham Organisation specialises in the construction of mainly residential skyscrapers.

In Liverpool its Beetham Tower in Old Hall Street is now one the city's most striking landmarks and planning has been approved for a second 40-storey tower nearby.

The company is also building a pounds 150m tower in Manchester city centre and something similar in Birmingham.

However, its most ambitious proposal to date is a pounds 500m68-storey residential tower planned for central London, at the site of the former Sainsbury's headquarters near Blackfriars bridge.

The spectacular design will feature a 440,000 sq ft, six-star hotel and 310,000 sq ft of residential space and at 740 ft, would provide the highest living space and public viewing gallery in the UK.

Southwark Council is now considering whether to give the go-ahead for the scheme on the South Bank at the junction of Blackfriars Bridge and Blackfriars Road on the southbank of the Thames. In recent weeks the firm, which is owned by developer Hugh Frost and his sons Simon Frost and Stephen Beetham, has published its annual accounts for the year ended September 30, 2004.

The report and accounts for the Beetham Organisation shows a pre-tax loss for the year of just under pounds 600,000 - a considerable improvement on2003's loss of almost pounds 2m. Turnover was just over pounds 1m compared to pounds 379,000 in 2003.

Beetham Organisation has fixed asset investments in 32 different companies.

They include a company called Beetham Landmark Liverpool which for the financial year reported a loss of almost pounds 8m. The most profitable was a company called City Housing(Liverpool) which reported a profit of pounds 1m.

Hugh Frost is the company's majority shareholder holding a 67% stake. Stephen Beetham holds around 27% while the remainder is held by Simon Frost.

During the year interim dividends totalling just over pounds 85,000 were paid, down from pounds 342,000 in 2003. It was recommended that no dividend be paid for this year.

The accounts also show that during the year Beetham made charitable donations totalling just under pounds 25,000

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Title Annotation:Business
Publication:Daily Post (Liverpool, England)
Date:Aug 31, 2005
Words:354
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