22 Bishopsgate builder says it has tightened up procedures to reduce risk on jobs

Farrat CPD June 2019 22 Bishopsgate during construction with Farrat Thermal Break in-situ, courtesy of Severfield

Pre-tax profit at 22 Bishopsgate builder Multiplex recovered last year, climbing to £18m in the 12 months to December 2018 from £4.2m the year before.

The firm, which has reached the highest point on the 278m-tall tower (pictured) in the City of London, said income during the period slipped 8% to £1.064bn.

Multiplex, which recently won the latest tranche of work on the Chelsea Barracks residential scheme in west London under a deal worth £250m, said its order book was up £400m to £4.6bn during the period.

It said it had looked again at its supply chain after it was hit when concrete subcontractor Dunne, which was working on its One Blackfriars residential scheme, went under three years ago.

Multiplex said other initiatives to reduce risk included improved client due diligence and a better culture of reporting problems to senior management.

Staff numbers during the period fell from just over 1,000 to 929.