The family-owned contractor posted pre-tax profit of around £16m for the year to 31 October 2025, up from £10m last time as it continued its recovery from a bruising £105m loss in 2023.

Reported contracting turnover remained steady at £946m as the firm stayed selective on work to drive through margin improvement, with average contracting margins rising from 0.3% to 1.2%.

Total revenue including client fees from construction management work lifted overall group revenue by nearly £300m to £1.24bn.

The uplift comes as the business beds in its Evolve strategy, launched in 2023 and completed last year, which has sharpened sector focus and pushed senior decision-makers closer to clients.

McAlpine is now focused on three core sectors: industrial, including defence and nuclear; commercial, including heritage and major projects; and healthcare.

The contractor said it had maintained tight discipline on project selection, targeting long-term clients and prioritising early contractor involvement, collaboration and operational performance.

Chief executive Neil Martin said that the new sector focus enabled the business to better anticipate market needs, deploy specialist expertise where it adds most value, and continue to attract both long-standing and new clients.

He said: “Our pipeline is robust, with a committed order book for 2026 of £1.3bn, a clear indication of the strength of our strategy and the level of trust placed in us by our clients.

“Our reorganisation has strengthened leadership alignment and brought us closer to our clients, enabling us to respond more effectively to their needs.

“Our strategy is delivering consistent financial performance, supported by a robust pipeline and a positive cash position.”

Cash remained strong at £141m with no debt. During the year headcount fell 11% to 1,630 staff.