Lupus Capital upbeat on outlook for construction

LUPUS Capital, the construction investment group that ousted City entrepreneur Greg Hutchings earlier this month, said yesterday that tough trading conditions in the building products sector have started to ease.<br /><br />Lupus said yesterday its chief executive Keith Taylor had commenced a review of operations, and that the business is currently performing in line with expectations.<br /><br />&ldquo;Whilst forward order visibility in the building products business remains short&hellip; market conditions for that business appear to have stabilised,&rdquo; the group said in a statement.<br /><br />Lupus added that its oil services arm, Gall Thomson Environmental, continues to perform well.<br /><br />Hutchings, the former boss of engineering group Tomkins, stepped down as executive chairman on 1 July as the group renegotiated its bank facilities, having struggled with its exposure to the crippled housing market and &pound;135m debt pile.