The CNinsight 100 table has been updated with the latest financial results of 21 companies since its publication last month, revealing significant movements in the rankings of the top 100 contractors.
Total turnover for firms in the CNinsight 100 now stands at £58.9 billion, 1.3 per cent higher than the £58.1bn recorded last month, and slowing the decline from last year to 1.8 per cent.
Total pre-tax profits among the top 100 firms are now 13.5 per cent higher than a year earlier.
The top 10 companies still account for the lion’s share of turnover across the whole table, accounting for 49 per cent of total revenue. But there has been some movement at the top as a result of the updates.
Kier has now leapfrogged Morgan Sindall as the company with the fourth highest turnover, while Galliford Try is no longer bringing up the rear of the top 10.
The firm’s 5.1 per cent growth in turnover – attributed largely to a strong performance in housing – puts it in ninth place.
Among the company profiles updated in the past week, Morrison Utilities Services reported growth in turnover of 2.9 per cent. The firm’s pre-tax profit was also higher for the year to March 2011, increasing by 17.2 per cent.
Strong rises in turnover for both Esh Holdings and William Hare Group’s sees them jump 16 and 15 places respectively.
In its annual report, Esh described market conditions as ‘extraordinarily difficult’, but the combined turnover of its construction businesses totalled £78.3 million in the year to December 2010, 26 per cent up on the previous year. The firm expects 2011 to be as much of a challenge as 2010.
At the other end of the 100, Carey Group drops to the bottom quartile of the table after turnover fell by 5 per cent, while Durkan Holdings’ 43 per cent fall in turnover means they have dropped 36 places to hit 95th position.
The firm reported a significant “scaling down” in its private housing arm, Durkan Estates, but its construction arm also saw turnover fall from £157m in 2010 to £114m. Durkan reports that it has a ‘healthy’ order book, with around £200m of secured work.
Other companies with updated results since the CNinsight 100 was published include John Graham Holdings and Doyle.
Doyle’s 36 per cent decline in turnover to £78.9m has seen it slip to the rear of the top 100 table.
The updates to the table show a further decline in directors’ remuneration since the CNinsight 100 was published. The average remuneration is now 6.8 per cent lower than it was the previous year, compared with 2.5 per cent lower as of last month.
Directors were paid an average of £1.3m in their latest financial year, down from £1.5m previously. The average employee salary stood at £35,862, 1.6 per cent down from the £36,459 of the previous year.