Strong results from Willmott Dixon

UK-based contractor Willmott Dixon has published its accounts for the 12 months to 31 December 2018, showing strong performance in the face of Brexit uncertainty.

Highlights from 2018 for the privately-owned construction and fit-out company include an increase in turnover to £1.32 billion (€1.48 billion), from £1.27 billion (€1.42 billion) in 2017.

The company’s profit before tax was up 55% over the same period, while its net assets increased to £170.2 million (€191 million), from 2017’s £142.2 million (€160 million).

As for the current financial year, Willmott Dixon said it had secured 85% of its budgeted work for 2019.

Willmott Dixon’s group chief executive Rick Willmott said, “Our approach of the last two years to focus entirely on construction and fit-out is showing strong results with good earnings growth, increased margin, a solid cash position and a robust, sustainable forward order book.

“This at a time when the pipeline of work available to the country’s fifty largest contractors has continued to diminish post the 2016 Brexit referendum; caused by postponement or cancellation of project opportunities. Being in a position of strength to weather the consequences of a further material depletion in accessible workload will remain a key priority for Willmott Dixon.”

The company, which said it has been carbon neutral for six consecutive years, recently won its third Queen’s Award for Enterprise – the most recent being for sustainable development.

It also states it is now using 100% natural renewable electricity at its sites and offices.