The 2020 accounts for Roadbridge, one of the country’s largest construction outfits, did not make for pretty reading. Revenues fell from €271 million to €262 million, while pre-tax profits fell from €2.2 million to €1.8 million. This was partially a result of the pandemic, but also because it was forced to write down €8 million owed to it by a sister company, Roadbridge Oman. In my analysis of the company at the time, I wrote extensively about its high debt, low margins and a business structure not set up to handle a slowdown. At the time the accounts were being…

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