Staff numbers slipped by nearly a quarter from the previous year to 347 as the project passed peak activity and CLM met its major venue milestones.

The slowing in work demand also saw average individual pay fall to £58,000, down from £69,000 the year before.

The accounts reveal that during the year Laing O’Rourke charged CLM £15m for employment, travel and subsidence costs of its staff, with CH2M Hill and Mace each charging around £12m.

A spokesperson for CLM told the Enquirer: “CLM’s contract with the Olympic Delivery Authority is entirely performance based and profit has been earned by targets being met and savings made as a result of the successful management and delivery of the venues and infrastructure for the London 2012 Games.

“CLM’s performance resulted in significant budget savings being achieved on the programme which the ODA has recognised.

“The 2011 reporting year saw the completion on or ahead of time and budget of all of the big five venues on the Olympic Park, meeting major milestones for CLM and resulting in a higher level of profit being achieved for 2011.”