VolkerWessels UK Covid-19 revenue impact under 10%

Aaron Morby 4 years ago
Share

The UK operation of Dutch construction group VolkerWessels smashed the £1bn revenue barrier after another strong year of growth last year.

Robertson says impact of Covid-19 on Volkerwessels has been limited
Robertson says impact of Covid-19 on Volkerwessels has been limited

The firm said it was in good shape for challenges ahead ending the year with a strong cash position at £122m.

Alan Robertson CEO of VolkerWessels UK said that Covid-19 had had a limited impact on the business which continued to deliver key infrastructure projects.

He said: “Operations have not been significantly impacted due to our ability to manage our diverse customer and supplier base.

“Overall we estimate that the impact of Covid-19 has led to a decrease in our revenue of slightly less than 10% and a similar impact on our gross margin in absolute terms.”

According to latest published results, revenue last year jumped a fifth to £1.18bn despite challenging market conditions, with VolkerFitzpatrick putting in a strong performance.

Pre-tax profit rose by almost 10% to £32m, although group operating margin was squeezed slightly to 2.7%.

Robertson said VolkerWessels UK had a strong forward secured order book at around £1.2bn, although slightly down from last year’s record £1.37bn.

He said: “We remain focused on growing the business through improving operational efficiencies and investing in new technology.

“Our spread of projects and standing on key frameworks ensures that the group is well positioned to take advantage of public and private sector opportunities that arise in the UK.”

 

Latest news

Carpenter killed by falling timber frame panels

Court fines specialist contractor £8,000 after site tragedy
3 days ago

Road sweeper specialist files administration notice

Go Plant lodges court notice
3 days ago

Anglian Homes rides in to finish crashed Everest contracts

Rival doubled glazed window specialist commits to complete orders
3 days ago

Final work starts to connect super sewer to London system

End in sight with 1.5m thick concrete wall to be demolished to link-up to Lee Tunnel sewer system
3 days ago

Legal challenge launched against £1.5bn A66 dualling

Balfour Beatty, Kier and Keltbray must now await outcome of court challenge
3 days ago

John F Hunt wins 24-storey Battersea tower

Specialist to carry-out demolition, enabling works and RC frame construction
4 days ago

William Hare wins steelwork on £500m Broadgate towers

Specialist to work on 2 Finsbury Avenue with McAlpine
4 days ago

McAlpine appoints MD to grow ventures business

Owain Thomas will build on private rental and healthcare development successes
4 days ago

BAM Co-op Live Arena opening delayed yet again

Another gig cancelled last night amid last minute safety concerns
4 days ago

National Grid unveils winners for £9bn network upgrade

New 'enterprise model' to deliver infrastructure schemes quicker and cheaper
5 days ago

Turkish insulation panel maker to build £45m UK factory

Assan Panel to open first UK plant at Freeport East
4 days ago

Expanding consultant Stantec swoops for Hydrock

Stantec UK business expands by a third as 950 staff join from Bristol-based engineer
5 days ago

Contractors wanted for £800m highways deal

Bids invited for Eastern Highways Alliance Framework 4
4 days ago

Galliford Try names group head of infrastructure

David Lowery promoted to Divisional Managing Director – Infrastructure.
4 days ago

Chigwell Group looks at stock market listing

Essex contractor registers as Public Limited Company
5 days ago

A57 Mottram Bypass clears final legal challenge

Balfour Beatty to get go-ahead to start shortly
5 days ago

100 jobs axed as Geoffrey Osborne confirms administration

Chairman Andrew Osborne calls it a 'sad day' as board loses fight for survival
6 days ago

Midgard set for Notting Hill office tower overhaul

Landmark project edges towards final approval after 10-year planning saga
5 days ago

Cumbrian civils firm clinches £40m Sellafield contract

Civils specialist Stobbarts will support McAlpine on groundworks and concrete
5 days ago

Designers named for London 2000-bed student rooms job

Bouygues will build £400m London School of Economics student scheme next to Tate Modern
5 days ago

£117m-turnover contractor files administration notice

ARJ Construction lodges court notice
6 days ago

£1bn London Blackfriars tower blocks approved

Trio of buildings rising to 45, 40 and 22 storeys approved by Southwark Council
6 days ago

Council decides to end Balfour deal after 13 years

Contractor has been maintaining roads across Herefordshire since 2013
6 days ago

Six civils clients to switch to low carbon concrete and steel

National Highways, Northumbrian Water and Sellafield sign fresh decarbonising pledge
7 days ago

Fortem extends homes repair deal across Birmingham

Willmott Dixon owned firm adds another two years to deal worth £170m
6 days ago

Kier wins £118m civil service Darlington hub

Work is expected to start towards the end of this year
1 week ago

Green light for 34-storey Digbeth apartments tower

480 flats will be delivered for Clarion housing association
6 days ago

LHC starts race for major retrofit and decarb framework

Hunt starts for firms to help with 6.1m social homes upgrade target
1 week ago

Windows giant Everest crashes into administration

Around 350 jobs at risk while hunt starts for a buyer to salvage business
1 week ago

Green light for £500m Newcastle health complex

Mixed use scheme will promote healthy living across all stages of life
1 week ago

Contractor services