Mulitplex puts Wembley problems behind them as construction division profit hits £17.3m

Wembley stadium contractor Multiplex has reported a first half profit, turning around last year’s loss.

Wembley stadium

The Australian construction group posted a net profit of £119.5m for the first half, compared to a £48.3m loss in the first half last year. Multiplex’s construction division, which includes Wembley, booked a pre-tax profit of £17.3m, compared to a loss of £151.9m in the prior corresponding period.

In a statement, the company said: “The construction workbook in the UK was significantly de-risked with the transfer of White City to Westfield and with project completion of Wembley now imminent.”

The statement added: “Multiplex is working closely with WNSL to secure project completion of the stadium early in 2007 and able WNSL to achieve operational readiness.”