News

McAlpine returns to profit following heavy losses in 2017

The Sir Robert McAlpine Group is back in profit after suffering heavy losses in 2017, with results for the latest financial year showing growth in both profit and cash.

The company say the results demonstrate a steadily improving performance in what remains a volatile market and, at a time when the UK construction market is highly competitive, they say they are delighted that the figures tell a very positive story.

The highlights include: -

  • Profit on ordinary activities before tax and exceptional items is £11.2m in 2018, compared to £1.5m in 2017.
  • The company made a profit of £6.7m compared with a loss of £34.2m in 2017.
  • Turnover including share of joint ventures was £788m (2017: £852m).
  • Cash balances were £73m (2017: £66m) at year end and no debt.

The company says its five-year plan, which was introduced by chief executive Paul Hamer at the end of 2018, sets the path towards achieving its ambition to become ‘the best place to work’ and ‘the best builder.’

Hamer said: “This performance, alongside continued financial resilience and a healthy secured pipeline of work, represents a solid stepping stone to deliver sustained performance and profitability over the years ahead. Our strategy will continue to focus on working with clients who share our business values and ideals and to prioritise profitability and risk mitigation over turnover growth. With our new five-year strategy in place, we have the opportunity to build on our strengthening performance as we work to deliver on our ambition to become the best builder in the UK and the best place to work.”