Canary Wharf Contractors' turnover fell 44% and profits dropped by 34% in 2014, according to its financial results filed with Companies House,

Construction News revealed the company’s revenue had plunged £241.4million in 2013 to £134.1m in 2014, despite increasing spending on staff by 2.8million between 2013 and 2014

The firm, which is the contracting arm of Canary Wharf Group, was delayed in starting work on the £1.3billion Shell Centre redevelopment on South Bank after local activist George Turner tried to stand in its way of obtaining planning permission.

Work will begin on the project later this year after the Court of Appeal rejected the case in June.