Contractor narrows losses by more than half

The country’s second biggest steelwork contractor narrowed losses in 2022 but stayed in the red for the second successive year.

William Hare, which is behind only Severfield in terms of income, posted a pre-tax loss of £853,000, down from the £2.2m loss it racked up in 2021.

Hare, whose recent high-profile jobs in the UK have included work on the Factory arts scheme in Manchester built by Laing O’Rourke as well as Mace’s Paddington Square office block in London, said turnover was up 3.5% to £248m.

_Renzo Piano Paddington Cube in July 2021 (18)

Turnover at Hare last year was close to £250m

The firm’s net cash at the year end was up £1m to £20m with staff numbers remaining flat at 1,771. Around 780 are employed in the UK with the remainder in the rest of the world.

It said its order book was “extremely strong” and added: “It is encouraging that quality projects continue to come to the market and the array of opportunities remain.”