Direct delivery model continues to pay off for Murphy

Grant Prior 2 years ago
Share

J. Murphy & Sons Limited has posted another set of strong financial results as its direct delivery model continues to pay off

The engineering and construction firm now employs 3,688 staff rand relies primarily on in-house capabilities while minimising subcontractor involvement.

Latest results for the year to 31 December 2022 show group revenue up to £1,491m from £1,274m last time generating adjusted pre-tax profits of £45.2m from £17.3m last time.

Net cash increased by 27% to £275.5m in 2022 while staff numbers rose to 3,688 from 3,579 and the order book grew by 13% to £2.52bn.

Chief Executive Officer John Murphy said: “Our direct delivery operating model, supported by a select supply chain, continues to be central to our unique offering.

“At a time when resources are increasingly a limiting factor across the industry, we give our clients heightened confidence of reliable delivery performance.

“I am delighted to present another year of growth for Murphy, demonstrating a continuous, year-on-year improvement in our financial performance and operational delivery as we continue to play a central role in delivering world-class infrastructure.

“These outstanding results are a testament to the hard work and dedication of our colleagues, our focus on sustainable business practices and our strong client relationships.

“As we approach our 75th anniversary in 2026, our vision to be the leading family-owned construction business in the three geographies in which we work is within reach, and we remain focused on delivering long-term sustainable growth and creating a positive and lasting legacy across our projects and the communities we serve.”

Latest news

Civils winners revealed for £12bn National Grid high voltage work

Contractor wins complete £59bn investment programme
9 hours ago

United Living quits new-build housing as costs mount

£136m-turnover housing arm to wind down as focus shifts to core infrastructure
12 hours ago

Fight looms for £3bn West Midlands building framework

Galliford Try, Morgan Sindall and others face fight to keep CWM seats
12 hours ago

Industry anger over sudden CITB funding changes

Smaller contractors lose funding route worth £10,000 a year
12 hours ago

Plans in to transform former GSK London HQ with 2,300 homes

Landmark 13-acre scheme set to transform Brentford Great West Road campus
11 hours ago

Watch Murphy near completion of major new rail bridge

Latest video reveals progress on Greek Street bridge during 21-day train suspension
12 hours ago

Mount Anvil’s in-house builder drives results in testing market

Group development pipeline holds steady at 3,384 homes despite dip in profit
13 hours ago

Costain margin heads for 4.5% after half-year profit rise

Roads and HS2 rephasing hit transport revenues but £5.6bn forward book to support growth
1 day ago

Hinkley contractors face prosecution over rebar mesh fall

Bouygues and Laing O'Rourke face action brought by the Office for Nuclear Regulation
2 days ago

Farrans to build new £59m Paisley bridge

Work to start soon on transport project for Renfrewshire Council
2 days ago

Crown Estate hires Olympics village veteran to lead delivery push

John Nicholson to oversee £16bn portfolio’s major UK development pipeline.
1 day ago

Henry Boot gets green light for 2,500 new homes

Hallam Land division sees signs planning system is speeding-up
2 days ago

Wates inks £100m deal on first new-design prison houseblocks

HMP Onley expansion leads roll-out of new standardised design
2 days ago

£122m deal to unlock Newcastle’s last brownfield site

Land remediation funding paves way for 2,500-home Forth Yards neighbourhood
2 days ago

McLaren lands Heathrow logistics deal

1.6 hectare airport site to be transformed into modern warehouses
3 days ago

McAlpine veteran to lead T&T’s project management drive

Former Olympic Stadium lead Mike O’Donnell takes lead role with focus on major capital project delivery
2 days ago

IES snaps up Nexus Power out of administration

Utilities group strengthens expertise in 400kV jointing and offshore markets
3 days ago

Thames Water tenders £120m water main rehab deal

Company seeks 2–5 contractors for London and South East renewal works
2 days ago

Lower Thames Crossing to lead green planning reforms

New system to avoid another £100m HS2 bat tunnel
2 days ago

Mace lands latest 30-storey City of London tower

85 Gracechurch Street near Leadenhall Market to be transformed
4 days ago

Vinci gets go-ahead for £250m Stockport 8 scheme

Contractor to start first phase of 435 net zero homes next year
3 days ago

£80m bid race to convert Oxford Debenhams into labs

Crown Estate advance plan to convert former six storey department store
3 days ago

Bennett steps-in to finish Guinness Covent Garden brewery

Original fit-out contractor Beck Interiors fell into administration
4 days ago

Work-to-rule set to hit Sellafield clean-up

Action by 1,500 construction workers across 34 contractors
3 days ago

Aureos breaks ground on £45m Howden Relief Road

Yorkshire road will pave way for 2,000-home scheme
3 days ago

Oxford United win green light for £150m all-electric stadium

Planners back 16,000-seat Kidlington ground with hotel, plaza and community hub
7 days ago

Demolition record as eight cooling towers come down

Watch Brown & Mason set record at Cottam Power Station
1 week ago

Hitachi Energy named for EGL3 converter station deal

Firm to build major HVDC converter stations in Aberdeenshire and West Norfolk
7 days ago

PAS NW secures landmark £20m civils deal in Lancashire

Groundworks firm wins infrastructure for 429-home Wain Homes scheme
6 days ago

Subcontractors wanted for jobs across the South West

Register now for latest Constructionline event in Bristol
6 days ago