For the year to 31st March 2022, Laing O鈥橰ourke plc grew group revenue by 19% to 拢1,807m (2021: 拢1,522m). Pre-tax profit improved to 拢16.2m (2021: 拢4.9m).
The group order book stands at 拢7.0bn as of 31st August 2022, with 97% of financial year 2023 revenue either secured or anticipated and 85% of FY 2024 revenue secured, anticipated or at preferred bidder stage.
The net cash position fell from 拢96.9m to 拢43.5m during the year, mainly due to the repayment of bank fees.
The board said that the group had recovered well from the impacts of the Covid-19 pandemic and management remained 鈥渇ocused on strengthening the foundation of the business through continuing to embed new processes and controls on project selection, operational delivery, and risk and assurance".
Current Laing O鈥橰ourke projects include construction of a new stadium for Everton Football Club in Liverpool鈥檚 Bramley-Moore Dock and Manchester鈥檚 new performing arts centre, Factory International.聽 Future projects in the order book include a 拢370m contract to build the HS2 interchange station in Solihull, starting site work in 2024.
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