For the year ended 31st December 2022, Murphy’s group revenue was up 17% to £1,491m (2021: £1,274m).
Operating profit more than doubled, reaching £45.7m (2021: £21.7m).
Bottom line pre-tax profit was down 28% at £44.6m (2021: £61.7m) but only because the 2021 result had been inflated by a revaluation of investment properties.
The turnover growth was attributed to “dependable operational delivery and solid client and supply chain relationships”. Margin growth was attributed to operational efficiencies.
Net cash increased by 27% during the year from £216.6m to £275.5m.
The order book grew by 13% from £2.23bn to £2.52bn, with secured and anticipated orders across the UK, Canada and Ireland, boosted by demand for utilities work to support the transition from fossil fuels to renewable and lower carbon energies.
Chief executive John Murphy said: “I am delighted to present another year of growth for Murphy, demonstrating a continuous, year-on-year improvement in our financial performance and operational delivery as we continue to play a central role in delivering world-class infrastructure. These outstanding results are a testament to the hard work and dedication of our colleagues, our focus on sustainable business practices and our strong client relationships.
“Our direct delivery operating model, supported by a select supply chain, continues to be central to our unique offering. At a time when resources are increasingly a limiting factor across the industry, we give our clients heightened confidence of reliable delivery performance.
“As we approach our 75th anniversary in 2026, our vision to be the leading family-owned construction business in the three geographies in which we work is within reach, and we remain focused on delivering long-term sustainable growth and creating a positive and lasting legacy across our projects and the communities we serve.”
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