Firm says order book includes £700m of framework deals

Willmott Dixon said half year profit stayed flat in unaudited figures released this morning by the firm.

As a private contractor, Willmott Dixon is not required to publish interim results – unlike its listed peers – but the firm has decided to publish numbers for the second successive year after releasing half year figures for the first time in more than a decade last year.

These will not be filed at Companies House but in a statement the firm said pre-tax profit in the six months to June was flat at £10m with turnover down 2% to £548m.

Graham Dundas 1

Chief executive Graham Dundas said the firm’s cash position at the end of June was up to £122m

Willmott Dixon said it had more than £1bn of work on a pre-construction basis while its framework deals amounted to £700m. It said its cash position at the end of June was up 12% to £122m.

Chief executive Graham Dundas said: “Willmott Dixon’s solid first half performance demonstrates our excellent operational performance and the resilience and quality of our order book. Our continued focus on operational excellence and smart contract selection underpins the strong profit performance and cash position across the group.”

In its last set of full-year results filed at Companies House, Willmott Dixon said turnover last year was flat at £1.2bn but £20m it recovered for cladding remediation work last year meant it returned to a pre-tax profit of £47m from a £14.4m pre-tax loss last time.

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