After posting 88% rise in pre-tax profit, chairman Kevin Taylor reveals intention to buy up struggling contractors
Kevin Taylor, chairman of McLaren Construction, has said the firm has an £18m war chest to buy struggling contractors.
Taylor, who founded the Essex-based company in 2001, was speaking after it posted an 88% rise in pre-tax profit from £1.7m to £3.2m in the year to 31 July 2009.
Last year the company bought a number of contracts from failed rival Verry Construction, including the £68m Westminster College job in London, for up to £810,000.
Taylor said: “The Verry deal was typical of the sort of opportunity we are looking for and I am confident that this year will continue to see McLaren thrive both in the UK and overseas as we seek to grow the business and embed ourselves as the contractor of choice with our clients.”
Turnover at McLaren was flat at £131m, although the figure next year is expected to be about £150m, which will include the Verry contracts.