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McAlpine turnover up by half

Olympic stadium builder Sir Robert McAlpine is heading for a £2 billion turnover as the group boosted revenues by half last year.

The figure will leave it behind only Laing O’Rourke as the country’s biggest private builder and puts it firmly in the clutch of firms, which include quoted rivals Kier and Morgan Sindall, that sit behind the big three – Balfour Beatty, Carillion and Laing O’Rourke.

But the hike in turnover came at a cost of pre-tax profits which were down 6 per cent to just over £64 million.

Revenue in the year to October 2007 was up by more than £500 million to £1.8 billion with 80 per cent of the rise – around £400 million – coming from its contracting operations.

Turnover at this division stood at £1.3 billion with its wind energy business the next highest business after nearly doubling its workload in the period to £318 million.

In a statement accompanying its results, the company, which trades as Newarthill, said: “The group now has investments in 23 wind farms in Europe and the US. The group’s objective is to continue to build up its operating assets and to renew and grow the development pipeline.”

The number of people on its payroll went up 11 per cent to over 2,800 which pushed up staff costs £32 million to £134.6 million meaning the average pay packet of each employee was £47,500 – up from the £40,000 last time.

The salary of the highest paid director, who is not named, went up 11 per cent to £738,000.