McLaren set to join £1bn turnover contractor club

Grant Prior 6 months ago
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McLaren Construction is on course to top £1bn turnover this financial year.

Paul Heather and Kevin Taylor
Paul Heather and Kevin Taylor

The milestone comes as the contractor posted another strong set of results at Companies House following another year of expansion.

McLaren made a pre-tax profit of £6.4m from revenues up 22% to £964 million while investing £3m in Building Safety, Sustainability and Digital Transformation capability.

Group chairman Kevin Taylor told the Enquirer the business is well on track to break the £1bn turnover mark this year as workloads continue to rise in the commercial office, leisure, industrial & logistics, residential and data centre markets.

He said: “We have had a good year, working successfully through challenging economic times. McLaren Construction is a highly consistent performer, trusted by our customers and our teams to deliver across the vibrant mix of building sectors.

“Since our founding in 2001, I am proud that we are close to breaching the £1 billion barrier, but quality of construction and sustainable profitability will always be the most important goals for myself and our executive team.”

McLaren is keen to keep working on smaller jobs despite its growth after handing over 19 projects in 2022/2023 and continuing construction on 75 schemes with values ranging between £10m and £220m.

McLaren Construction Group chief executive Paul Heather said: “While winning and delivering top tier projects is in McLaren’s DNA, we are also staying faithful to our roots by continuing to work on smaller contracts.

“We will not turn our back on this as we grow because we wish to spread our skillset across a range of different projects and to develop our teams accordingly.

“We like a good mix of different sized projects and its a great way for our staff to learn all aspects of the job.”

It has also been a successful year for McLaren Construction with central and local government customers, with McLaren now having a place on 21 public sector frameworks.

More than £200m of additional revenue is in the pipeline from the health, education, building safety recladding and refurbishment work, in addition to public sector developments with the greatest proportion coming from local authorities, the Department for Education and the NHS.

Group employees rose by 140 to 900 in 2022/2023, and during 2023 McLaren also relocated its head office to a state-of-the-art building at Canary Wharf, delivering a meaningful saving in head office rental costs.

 

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