In the 12 months to 31st December 2024 Willmott Dixon turned over 拢1.2bn, much the same as the previous year, but turned 2023鈥檚 拢14.4m pre-tax loss into a profit of 拢46.8m this time.
The losses of 2023 were partly down to significant provisions made for legacy cladding remediation works. In 2024 the company secured net recoveries from third parties of more than 拢20.0m against those historic provisions, boosting profits.
Profit before tax, exceptional items and goodwill amortisation was 拢28.6m (2023: 拢5.2m loss)
The order book currently stands at 拢2,345m with most of it聽 from long-term public sector frameworks.
Willmott Dixon 91黑料网 accounted for 拢1.0bn of the turnover, with Willmott Dixon Interiors adding 拢146.7m.
In 2024, 81% of Willmott Dixon鈥檚 turnover was in the public sector, with 77% procured through long-term frameworks
At year-end, cash at bank stood at 拢121.4m, with no debt (2023: 拢115.1m, no debt). Net assets had risen to 拢174.1m (2023: 拢158.8m).
Chief executive Graham Dundas said: 鈥淲e鈥檙e delighted to have returned to profit as we expected in 2024, responding strongly to a difficult economic environment in 2023, and adding a record 拢1.3bn of new contract awards to our high-quality order book.
鈥淥ur strategies, including a more rigorous focus on contract selection, are generating much improved consistency in our financial performance, with all parts of the group delivering a meaningful contribution to the welcome return to profit in 2024.
鈥淭hese results, and the operational performance that underpins them, give us great momentum and a solid foundation to move on into 2025, backed up by a very strong cash position and a solid pipeline of opportunities. I look forward to the rest of the year with confidence and cautious optimism.
The company also picked up a record 拢1.3bn in new work in 2024, including: a 拢90m project to build a new student village in Stoke-on-Trent for the University of Staffordshire that will be built using Passivhaus principles; a 拢61.0m project from the Defence Infrastructure Organisation to enable the rebasing of the 18 Army Education Centre and 1 Military Working Dogs from St George鈥檚 Barracks to Kendrew Barracks; a 拢60m project for Bridgend College to build its new net zero in operation (NZiO) Town Centre Campus; and a 拢49.0m redevelopment of Wigan & Leigh College, also NZiO.聽
On trading so far this year, Dundas said: 鈥淲e鈥檝e started the current trading year strongly with secured and probable workload of 93% by March. Most of this has been procured through public sector procurement frameworks, the bedrock of our order book, with 81% of our turnover derived from the public sector and 77% through long-term frameworks.聽聽
鈥淥ver half of our work is with repeat business customers, and this remains an area that we鈥檒l continue to grow using our presence on a combination of national and local frameworks.聽
鈥淭he above factors give us much to be optimistic about although we remain far from complacent in what has become an uncertain world. While we await the government鈥檚 spending review this summer, we are confident that our presence in critical sectors such as education, blue light services, residential and transport 鈥� supported by our leading position in sustainable construction 鈥� provides greater resilience.鈥澛�
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