McLaren has returned to profit in a year that saw its turnover grow by more than £100m.
The company posted pre-tax profit of £4.1m for the year to 31 July 2016.
The figure marks a turnaround for the Essex-based contractor, which saw problem contracts contribute to losses of £15.7m in the previous 12 months.
McLaren also posted a 27 per cent rise in revenue from £378m to £481m over the same period.
The company said it expected turnover to exceed £600m for the year to 31 July 2017, adding that turnover for the current financial year was already £60m higher than at the same time in 2016.
McLaren attributed growth to strong performances in the logistics and residential sectors.
Recent wins included the 2.2m sq ft fulfilment centre for Amazon at Tilbury Docks, as well as £174m-worth of high-rise residential schemes in central London.
McLaren also confirmed the appointment of former Wates construction managing director and chief operating officer Dave Smith (pictured).
Mr Smith, who was at Wates for more than 30 years, will become McLaren’s managing director for construction in April.
David Murphy will be promoted to managing director of McLaren’s distribution and mixed-use arm, while David Gavin will be promoted to regional director for the South.
The company said the restructure it underwent in November 2015 – splitting its construction business into five divisions – had been successful and was a significant factor in the improved results.
Addressing the problem contracts that had an impact on last year’s results, the firm said it had now put in place estimating, design and planning procedures to minimise risk in the future.