The Spanish owned contractor saw its UK revenue grow by 19% in the year to 31st December, reaching 拢456m compared with 拢381m in 2020 and 拢345m in pre-Covid 2019.
Operating profit was up from 拢1.0m in 2020 to 拢5.6m in 2021 and pre-tax profit increased up from 拢1.5m to 拢5.4m.
Ferrovial Agroman (UK) 鈥� as it was then 鈥� had made pre-tax losses in 2018 and 2019 of 拢11m and 拢31m respectively, so the 2021 results mark a resurgence for the business.
The company said that its 2021 results 鈥渄emonstrate the financial position of the company going from strength to strength鈥�. Net cash balance increased from 拢158m to 拢195m during the year. The order book is steady at 拢1bn.聽
More than half Ferrovial Construction (UK)鈥檚 turnover is from the rail sector, bringing in 拢245m in 2021; 拢91m came from the water sector and approximately 拢45m from each of airports and highways 拢45尘.
The publication of results for its UK construction business follows the recent announcement that the global business increased revenue by 5.4% in like-for-like terms to 鈧�6,778m (拢5.7bn) in 2021 due to the contributions from its Cintra toll roads business as well as construction.
Ferrovial Construction (UK) managing director 聽Karl Goose said: 鈥淚t鈥檚 excellent to see the result of the team鈥檚 hard work, confirming that we continue to head in the right direction despite the challenges of the pandemic. Infrastructure鈥檚 role in the UK鈥檚 economic recovery is clear and we are focused on sustainably contributing to this now and long into the future to support our clients, supply chain, and the communities where we work.聽
鈥淥ur growing and diverse team remains at the heart of our business and we will continue to prioritise their development, career progression and their health and wellbeing. Our early talent community will form 25% of our employee base by the end of 2022 with 62% of this year鈥檚 graduate intake from a Black or Asian background.
鈥淥ur focus for the year ahead will be to continue to bring innovation and excellent delivery to our clients and the sector, ensuring we hit our carbon reduction targets as approved by the Science-Based Targets initiative as we work with industry to achieve carbon neutral construction.鈥�
Got a story? Email news@theconstructionindex.co.uk
