Group posts flat turnover as it prepares to weather government cuts

Willmott Dixon group made 拢8.6m in pre-tax profits in the six months to 30 June, up from 拢6.3m in the same period last year.

Turnover was steady, rising fractionally from 拢475m to 拢481m, but chief executive Rick Willmott said that to maintain this amount of revenue in 2011 and 2012 the company would have to 鈥渟ecure an increasing proportion of the declining publicly sector market - focussing in particular on health and social housing - and to secure a substantial foothold in new private sector markets as they come on stream.鈥�

He said that cuts contained the October comprehensive spending review 鈥渨ill inevitably have an impact upon the wider industry鈥� but said that the company was 鈥渃ontinuing to take steps to position the group with longer term projects.鈥�

鈥淕iven the challenges faced in the construction, housing and property sectors we are satisfied to have delivered half year results ahead of budget.

鈥淧erhaps more importantly secured order books have held up better than expected in our capital works and support services divisions, and we鈥檝e made good progress in positioning the regeneration division to deliver future growth,鈥� he said.

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