Pre-tax profit rises to 拢44.5m as contractor aims to increase tunrover to 拢5bn in 2008
Pre-tax profit has jumped 30% at Laing O鈥橰ourke after a string of large high-profile contract wins at the UK鈥檚 largest private contractor.
It made a 拢44.5m profit in the year ending 31 March 2007 on a 拢3.5bn turnover, which was an increase of 33%.
Next year the contractor is aiming to increase turnover to more than 拢5bn, which make it the UK鈥檚 second biggest contractor after quoted company Balfour Beatty. It is targeting 8% gross margins.
Chairman and chief executive Ray O鈥橰ourke said that highlights in the year included the appointment of CLM 鈥� of which Laing O鈥橰ourke is a member 鈥� as delivery partner to the ODA, as well as the acquisition of Barclay Mowlem in Australia.
He also cited its joint venture agreement with Aldar, the biggest developer in Abu Dhabi, to carry out all its construction work over the next ten years.
鈥淥ur clients rightly set us ambitious challenges. We seek to meet their demands through collaboration and the pursuit of innovative engineering solutions,鈥� said O鈥橰ourke.
鈥淲e are organising and training to work smarter. We will remain at the forefront of fresh thinking in this industry.鈥�
Laing O鈥橰ourke now employs almost 27,350 people, boosted by the fact that it uses a directly-employed labour force.
The order book rose by almost half to 拢8.4bn.
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