McLaren set to join £1bn turnover contractor club

Grant Prior 6 months ago

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.


Latest news

Mace lands £184m Oxford Science Park contract

Contractor to build trio of laboratory and office buildings
7 mins ago

Sir Robert McAlpine clinches £4bn Somerset gigafactory

2.6m sq ft car battery plant will require over 2,000 workers at peak construction
4 hours ago

House builder Hill Group tops £1bn turnover

Group's controlled development pipeline stands at £10bn
3 hours ago

Higgins wins 360 new homes job in south London

Firm will now work up planning for phase 2 of Brixton housing project
4 hours ago

Kier starts £48m Ealing high school job

Northolt High School to be rebuilt for 1,130 pupils
5 hours ago

Plans in for £64m Suffolk A12 upgrade

Work to start next summer on dualling and junction upgrades
4 hours ago

Man suffers multiple fractures in HS2 accident

Engineering firm fined after fall leaves worker in hospital for two months
3 hours ago

Go-ahead for Milton Keynes’ largest private rental project

Platform_ to build 20-storey scheme of 335 flat next to train station
3 days ago

A2Dominion reins in new-build and cuts development team

Housing association to stop private new build sales in big strategy switch
3 days ago

Sellafield partnership appoints final key delivery partners

Altrad and Kaefer bag £180m access, insulation and painting deal
3 days ago

Health centre canned as build costs double in four years

Devon NHS stands down plans for Health and Wellbeing Centre in Teignmouth
3 days ago

Family confirm death of Des O’Rourke

Deputy chair and co-founder of Laing O'Rourke dies aged 75
4 days ago

Plans approved for major phase of £2.5bn Salford Crescent

Crescent Innovation will help create global research hub
3 days ago

Deal to kick-start 3,000-home Northstowe town centre

Labour Government acts to unlock next phase of new town near Cambridge
3 days ago

Striking new-look for Canary Wharf HSBC tower

Large chunks of upper floorplate to be removed in major overhaul
4 days ago

Kier halves debt to £115m after strong trading year

Order book up 7% to £10.8bn with 85% of work secured for year ahead
4 days ago

Developer blasts “unfair” power charges on huge Liverpool site

Romal Capital unhappy about site power hook-up costs
4 days ago

Regal to start Wembley 1000-bed student scheme

Backer found to deliver £400m twin tower student scheme
4 days ago

Breyer Group bags £163m housing repair deal

Major repair and maintenance win from Kingston Council
4 days ago

VolkerFitzpatrick lands Piccadilly Line upgrade deal

Contractor to work on Cockfosters depot
4 days ago

26 face fight to renew spots on £1bn NEPO civils deal

Next generation framework to start in March 2025
5 days ago

Go-ahead for £170m King’s Cross life sciences office project

Innovative arched design to carry landmark building over railway tunnels
5 days ago

Mitie buys power contractor ESM for £8.5m

Building FM firm strengthens high voltage contracting offer
5 days ago

New vision unveiled for £5bn Liverpool Waters

More housing included in central docks area after Labour £55m funding boost
5 days ago

String of contract wins sees turnover surge 25% at Mace

Construction division sees revenue leap to £1.73bn
5 days ago

Morgan Sindall wins £32m Walsall waste centre

Contract will transform former metal factory site
5 days ago

Kier wins £30m Greenwich teaching block

London South East Colleges plans to spend £47m on Greenwich Campus redevelopment
6 days ago

Blenheim House Construction applies for administration

Surrey contractor employs around 80 staff generating £87m turnover
6 days ago

GMI chief jumps to Henry Boot Construction

Lee Powell will replace Tony Shaw as MD when he leaves at the end of 2024
6 days ago

Avant Homes makes £109m loss

House builder reveals huge loss just days after entering Crest Nicholson bid race
7 days ago

Contractor services