Rick Willmott
Willmott Dixon has credited its return to a focus on contracting for its 14% increase in group pre-tax profit in 2017.
The privately owned construction group reported a £35.5m profit before tax and amortisation for the year, compared to £31.1m in 2016.
Meanwhile turnover rose to £1.3bn in 2017, up from £1.22bn in 2016.
The results follow a demerger at the start of 2017 of Willmott Dixon’s development arm Be Living and property services division Fortem.
The business also reported a secured and probable forward order book of £1.6bn (at May 2018).
Group chief executive Rick Willmott said: "Since Willmott Dixon demerged Be Living and Fortem at the beginning of 2017, we’ve made great progress in our strategy to focus solely on our primary capability of being a constructor of choice for our customers. This is especially the case as we can provide access to procurement routes and solutions tailored to meet their needs for value and efficiency.
"The 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. We have chosen to clearly structure our business around core competency, working with customers to ensure we deliver not only great capital projects but also social value and community benefit working through the best supply chain partners."
Recent wins for the business include being appointed sole contractor for Places for People’s new Major Projects Framework which is worth a potential £2.5bn over four years.
Meanwhile, Rick Willmott restated the firm’s aim to achieve gender parity by 2030, confirming that 38% of its management trainee intake in 2017 were women.
Taking about other potential challenges facing the industry in the year ahead he added: "We are mindful of the challenges created by the effect of Brexit on our supply chain’s work force and the impact of exchange rate fluctuation on the costs of imported materials and products. However, we are confident these matters are better understood than twelve months ago and indeed ‘priced in’ to our workload assuming a ‘soft’ Brexit in 2019.
"We are also watching closely the possible on-going consequences and implications for the construction industry in the wake of the Hackitt Review and following the demise of Carillion."
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