For the year to 31st March 2022, Laing O’Rourke plc grew group revenue by 19% to £1,807m (2021: £1,522m). Pre-tax profit improved to £16.2m (2021: £4.9m).
The group order book stands at £7.0bn as of 31st August 2022, with 97% of financial year 2023 revenue either secured or anticipated and 85% of FY 2024 revenue secured, anticipated or at preferred bidder stage.
The net cash position fell from £96.9m to £43.5m during the year, mainly due to the repayment of bank fees.
The board said that the group had recovered well from the impacts of the Covid-19 pandemic and management remained “focused on strengthening the foundation of the business through continuing to embed new processes and controls on project selection, operational delivery, and risk and assurance".
Current Laing O’Rourke projects include construction of a new stadium for Everton Football Club in Liverpool’s Bramley-Moore Dock and Manchester’s new performing arts centre, Factory International. Future projects in the order book include a £370m contract to build the HS2 interchange station in Solihull, starting site work in 2024.
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