Monday, August 24, 2009

Laing O'Rourke turnover rises to ВЈ4.1bn

Laing O'Rourke has held on to its crown as the UK's largest private construction firm as it pushed its turnover up to ВЈ4.1bn (ВЈ3.6bn) for the year to 31 March 2009.

However, the contractor saw a more modest increase in its pre-tax profit to ВЈ85m (ВЈ81.2m), after it was dealt a ВЈ17.1m hit in the form of writedowns on its residential and mixed-use developments.

The bulk of the company's turnover, ВЈ2.5bn, came in Europe. The Middle East and Asia accounted for ВЈ828.7m, while ВЈ725.6m was generated in Australia.

Laing O'Rourke's order book now stands at ВЈ10bn, and ended the year with cash of ВЈ614.3m.

Chairman and chief executive Ray O'Rourke said: "We have achieved a more balanced portfolio of public and private clients, with a growing emphasis in the infrastructure sectors (particularly healthcare, education, energy and transport).

"As governments accelerate their investment programmes, we see opportunities to benefit in these important markets."

Laing O’Rourke takes half of all public sector work in JulyBailed-out companies face ‘pay czar’