Firm turns in improved figure on turnover up to 拢1.3bn
Willmott Dixon has reported a 14% rise in pre-tax profit a year on from de-merging its Be Living housebuilding and Fortem repairs and maintenance subsidiaries at the start of 2017.
The privately-owned contractor said it posted a pre-tax profit of 拢35.5m for the 12 months to the end of December 2017 on turnover of 拢1.3bn, up 6.6%.
Chief executive Rick Willmott said the group had made significant progress towards focusing on its construction arm since the demerger of Be Living and Fortem 18 months ago.
鈥淭he move to focus on our core business of construction and fit-out is consistent with what I think will be a general trend towards de-layering and simplification of business models in the construction sector,鈥� he added.
The group has been appointed the sole contractor for Procurement Hub鈥檚 new major projects framework, a deal which could be worth 拢2.5bn to the firm in the next four years.
Speaking about the short-term trading outlook, Willmott said he was 鈥渕indful鈥� of the challenges Brexit might impose on the workforce 鈥渙f its supply chain, as well as exchange rate fluctuations on the cost of imported materials鈥�.
But he added: 鈥淲e are confident these matters are better understood than 12 months ago and indeed 鈥榩riced in鈥� to our workload assuming a 鈥榮oft鈥� Brexit in 2019.鈥�
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