McLaren turnover breaks through £600m barrier

Grant Prior 4 months ago
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McLaren Construction Group has seen turnover break through the £600m mark as profits continue to grow at the private firm.

Latest results for the year to July 31 2017 show turnover up by £119.8m to £600.3m as operating profits ticked-up to £4.4m compared with £3.6m last time.

McLaren also confirmed that it has 100% of turnover secured for 2017/2018 thanks to repeat business with clients like Quintain, Amazon and the London Borough of Hackney.

Chairman Kevin Taylor said: “The outlook for McLaren Construction in the UK and internationally is positive, and the business is now strongly positioned to grow and further enhance its position as one of the industry’s leading privately owned construction companies.

“We have not detected any distinct slowdown in either business or enquiries since Britain voted to leave the European Union.

“In fact, in those situations where we had anticipated contracts being cancelled or delayed, clients have chosen to proceed.

“Of course, in light of industry-wide economic concerns, we’ll remain cautious for the longer duration.”

He added: ‘’We forecast continued growth in turnover whilst remaining selective on the contracts we undertake.

“We remain focused on our core operating sectors whilst selectively reviewing opportunities in new markets.’’

Phil Pringle, Group Executive Director of McLaren Group said: “Following our positive performance during 2016/2017, we enter our new financial year with optimism having already secured a healthy forward order book of projects within multiple sectors.”

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