Sir Robert McAlpine construction have published their financial results for 2022-23, showing 2023 to be their toughest year in a while
The financial results for Sir Robert McAlpine have been published for the year 2022-2023, and show a rough year for the construction company.
2023 was a major drop on the previous year
Although the company achieved a profit of £9.6m in 2022, 2023 saw a drastic drop to an operating loss of £109.9m in 2023
The company also saw an annual turnover of £880.6m, down from 2022’s £1,086.9m. All contributes to mark a 17% decline in revenue over the year.
Sir Robert Mcalpine’s loss was supported during this difficult year, as the McAlpine family decided to inject £60m into the company, and started a static review to ensure that the company was focusing on key markets.
Despite Sir Robert McAlpine’s losses, the company is positive for the future
The company is remaining positive that better times lie ahead, emphasising that in spite of the set backs, they ended the year with £100.8m, without debt.
They have also been quick to highlight that the first half of 2024 has seen positive trading, with £105m in cash and an order book consisting of £1.4bn, already an increase of £271m since 2023.
The company is now focusing on operational excellence, key client relationships, risk management, profitability, and culture, and is now running on a sector-focused operating model.
Sir Robert McAlpine’s chief executive officer, Neil Martin, said: “We faced a challenging year in 2023, but our resilience and the support of our shareholders allowed us to weather the storm. We have already seen a positive shift in performance in the first half of 2024. Thanks to our focus on operational excellence and on targeting quality work-winning opportunities for long-term clients in our core sectors, we are playing to our strengths.
“As the company celebrates its 155th Anniversary this year, I have every confidence that the business is on the right path for long-term success.”
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