Group turnover edged up 4% to £1.49bn in 2024 while pre-tax profit jumped 24% to a record £48m, as robust governance further reduced impacts from legacy loss-making contracts.
The improved performance saw group operating margin recover to 3% from 2.5% in the prior year and cash closed the year at £172m.
Richard Offord, CEO of VolkerWessels UK, said: “We are incredibly proud of the direction our business is heading in, despite the economic challenges we faced in recent years.
“Our strong performance is a testament to the outstanding work delivered by our teams across the group and our focus on selecting the right work for us and our supply chain. We are pleased to see each of our business units contributing to our overall success.
Rail remained the largest market but the standout growth came in highways and marine sectors, more than compensating for a sharp fall in commercial building.
Sector revenue breakdown
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Rail infrastructure: £547m (↑11%)
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Highways & airports: £465m (↑27%)
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Marine, water, energy & environment: £340m (↑37%)
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Commercial, industrial & education: £139m (↓57%)
A strong year of framework and major alliance project wins like the Southern Renewals Enterprise rail deal has put VolkerWessels on a strong forward footing with an order book ahead 13% to £1.5bn.
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