Construction and property group Osborne has posted a pre-tax loss of £1.76m in the year to 31 March 2008.

Despite the result, turnover grew 21% to £303.7m and its order book stands at £242.9m. Simon Murray, the company’s chairman, said: “The loss is primarily the result of provisions taken on two contracts.” The company employs 1,100 people and is working on 150 sites.