Most of the big concrete frame contractors appear to have weathered the economic storm surprisingly well, based on their most recent financial results.
There are a couple of exceptions though.
At Laing O'Rourke's Expanded Structures, revenue shrank to less than one fifth of 2010 levels (拢14.4m) 鈥� putting it outside the 10 largest companies in the sector.
Meanwhile, John Doyle Construction's turnover fell 39% to 拢28.5m, and its pre-tax loss of 拢3.2m made it the only firm in the top 10 to dip into the red. The directors described the performance as 鈥渆xceptionally disappointing鈥�.
| Rank by turnover | Rank by profit | Company | Latest turnover (拢m) | Previous turnover (拢m) | Latest pre-tax profit (拢m) | Previous pre-tax profit (拢m) | Latest margin (%) | Previous margin (%) | Latest reporting period |
| 1 | 2 | Careys | 165.6 | 174.9 | 7.8 | 0.8 | 4.7 | 0.5 | 31/03/11 |
| 2 | 4 | Byrne Bros | 115.6 | 124.6 | 3.2 | 8.0 | 2.8 | 6.4 | 31/05/11 |
| 3 | 6 | J Reddington | 106.0 | 88.9 | 1.6 | 2.8 | 1.5 | 3.1 | 31/12/10 |
| 4 | 3 | Masterson | 91.2 | 67.1 | 6.3 | 5.1 | 6.9 | 7.6 | 31/08/11 |
| 5 | 1 | CJ O'Shea | 80.5 | 91.9 | 9.0 | 7.5 | 11.2 | 8.2 | 31/03/10 |
| 6 | 8 | AJ Morrisroe | 57.0 | 45.4 | 1.4 | 3.2 | 2.5 | 7.0 | 31/10/10 |
| 7 | 7 | PC Harrington | 52.6 | 63.6 | 1.5 | 3.4 | 2.9 | 5.3 | 31/05/11 |
| 8 | 9 | MPB | 34.9 | 27.1 | 0.7 | 0.5 | 2.0 | 1.8 | 30/06/11 |
| 9 | 5 | Dunne Group | 29.5 | 29.4 | 1.7 | -0.1 | 5.8 | -0.3 | 31/10/11 |
| 10 | 10 | John Doyle Construction | 28.5 | 46.9 | -3.2 | 0.5 | -11.2 | 1.1 | 31/12/10 |
Careys tops the table, though the business includes general contracting and house-building among its activities, besides the concrete frame business. Turnover fell 5% to 拢165.6m.
The Wembley-based business enjoyed a big jump in profit, to 拢7.8m from just 拢0.8m in the previous year. The contractor has concentrated on reducing debt, cutting it by 拢12.3m to 拢28.3m at year end, and by a further 19.1m since, to a current level of 9.2m. Careys' directors said they remained 鈥渃onfident鈥� given the 鈥渄iversity of client base鈥�.
Byrne Bros also experienced a small dip in turnover, from 拢124.6m to 拢115.6m. The Shard builder saw profit fall 60% to 拢3.2m.
The directors said that 鈥渋nnovation has been the core strategic response to the current era of austerity鈥�, citing a 70% pre-assembled solution at Heathrow Terminal 2B as an example.
Byrne Bros said secured turnover for year to May 2012 is healthy, 鈥渁lbeit at tight margins鈥�.
J Reddington enjoyed a 拢17.1m jump in turnover to 拢106m, though this was at the expense of profit, which fell from 拢2.8m to 拢1.6m.
Chairman John Reddington attributed a 鈥渞esilient performance鈥� to 鈥渢he employment, motivation and retention of widely experienced staff鈥�.
He added the firm has 鈥渕aintained diversity in its client base throughout the last three years, [and] ensured that we are not over exposed to any of our primary market sectors鈥�.
Masterson also grew revenue 鈥� by 36% 鈥� to 拢91.2m. Profit climbed 拢1.2m to 拢6.3m.
The directors 鈥� all Masterson family members 鈥� considered the results 鈥渟atisfactory in these uncertain economic times鈥� though noted that 鈥減ricing was even more competitive鈥�.
At CJ O'Shea, revenue dipped to 拢80.9m but the firm's pre-tax profit of 拢9m was the best in the sector. It is top of the table on margin (8.2%).
AJ Morrisroe grew its turnover a quarter, though its profit dived 拢1.8m to 拢1.4m.
PC Harrington had another rough year, with turnover dropping 17% to 拢52.6m, and profit slumping 56% to 拢1.5m. The firm said it had 鈥渃ontinued to reduced costs in line with reduced volumes of work, and unfortunately had to make further redundancies鈥�.
MPB's grew turnover 29% to 拢34.9m, with margin up fractionally to 2%.
Scottish-based Dunne Group held steady in turnover, thanks to southern expansion, and made a welcome return to profit.
The struggles of John Doyle are partially offset by an order book of 拢55m for 2011.
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