Vinci profit jumps after restructure and targets 4% margin

The UK construction business of French giant Vinci posted improved profit and turnover last year after a group restructure.

The firm, whose businesses include civils specialist Taylor Woodrow, highways business FM Conway and Vinci Building, said pre-tax profit was up 51% to £97m on revenue up 19% to £3bn.

Vinci rejigged the structure of the firm and brought its businesses under the Vinci Construction Holding UK brand.

Its biggest business is FM firm Vinci Facilities with revenue of £581m while FM Conway, which it bought last year for an undisclosed sum, posted income of £569m and made the highest operating profit of the individual businesses with £39m.

Vinci said its pre-tax margin on jobs not including joint ventures was 3.6% with the firm targeting 4% this year – despite the “unprecedented” economic climate for construction.

Chief executive Scott Wardrop admitted: “This intense period is unprecedented. However we are optimistic and we have three-year plans for each business and each business unit, and plan to deliver +4% in 2026.

“We will keep evolving through optimisation, innovation, and transformation and continue to develop into a strong and resilient dynamic UK infrastructure group.”