VolkerWessels UK on track to top £1bn turnover

Aaron Morby 2 years ago

The UK operation of Dutch construction group VolkerWessels is on track to top the £1bn revenue barrier after another strong year.

Chief executive Alan Robertson says the firm now has a strong pipeline of quality work based on major infrastructure investment
Chief executive Alan Robertson says the firm now has a strong pipeline of quality work based on major infrastructure investment

VolkerWessels UK has been steadily building turnover and profitability over the last five years on the back on ongoing UK infrastructure investment.

Last year the group, which includes building, highways rail, water and marine specialisms, lifted pre-tax profit by 23% to £29m.

This was driven by strong performances at building arm VolkerFitzpatrick driven by the upsurge in industrial building and VolkerRail.

Marine contractor VolkerStevin saw margins squeezed, mainly due to challenges completing the Oswestry waste water treatment plant upgrade.

Overall group operating margin edged up to 3%.

Average headcount across the business rose to around 3,000 as revenue increased 13% to £984m, despite what the UK group described as challenging market conditions.

VolkerWessels UK
2018 2017 2016 2015 2014
Pre-tax profit £28.9m £23.6m £22.9m £20.8m £14.8m
Revenue £984m £870m £877m £852m £747m

Year-end net cash was up £6m to £123m.

UK chief executive Alan Robertson, said: “Looking ahead, VolkersWessels UK has in place an exceptionally strong pipeline of quality work with the secured order book at year-end at a record £1.4bn.”

This is up by over a quarter on 2017, with the group continuing to perform well in key markets including rail, road, airports, commercial and industrial building, ports, energy, water, coastal and flood defences.

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