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Willmott Dixon reports 56pc increase in turnover

Willmott Dixon has revealed a 56 per cent increase in turnover for 2008 of £592.5 million compared with £380.4 million the previous year.

The contractor’s pre-tax profit increased 18 per cent to £11.9 million from £10.1 million the previous year.

When the contribution from social housing firm Inspace, post acquisition last year, is included the combined turnover in 2008 was £839 million with a pre tax profit of £20.5 million.

Group chairman Colin Enticknap said: “Like most other UK businesses, we shall remember 2008 as a very challenging year.

“One in which we saw our economy fall into severe recession, consumer demand evaporate and private sector investment all but disappear.

“Against this very difficult market backdrop, I am pleased to report that the group has performed extremely well.

“We have completed our group reorganisation, we have continued to deliver good financial results, and we have increased our resilience to what we expect to be a deteriorating UK construction and housing market.”

The firm reorganised into four main trading businesses over the past year – Willmott Dixon, Inspace, Willmott Dixon Investments and Willmott Dixon Developments.

Willmott Dixon, the construction division, continues to form the backbone of the firm, accounting for £507.9 million of turnover in 2008.

The firm does 70 per cent of its work in the schools and higher education sectors.