The UK鈥檚 capital city has helped the contractor to rapidly expand over the last year

Bishopsgate

Multiplex has hit 拢1bn turnover on the back of London鈥檚 skyscraper boom.

The contractor reported a 67% jump in its turnover for last year to 拢1.04bn, up from 拢620m for 2015.

Multiplex said its revenue had increased in part due to five projects on which the firm had pre-construction services agreements being converted into full contracts during last year.

These projects included the 拢589m contract to build Lipton Rogers huge Square Mile tower 22 Bishopsgate, which got the final go-ahead from its investors last autumn.

Multiplex added that it believed it was 鈥渨ell placed to maintain revenues in excess of 拢1bn鈥� citing its recent appointment by Chinese developer Wanda One to build its luxury residential tower One Nine Elms in South West London.

The firm鈥檚 rapid expansion has also seen its staff numbers rocket up by 225 to number 931-strong.

However, Multiplex鈥檚 pre-tax profit for the year ended 31 December 2016 slid to 拢16m, down 27% on the previous year鈥檚 pre-tax profit of 拢22m.

 

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