Sir Robert McAlpine returns to profit after losing over £100m
Sir Robert McAlpine, the family-owned construction giant which built London 2012’s Olympic Stadium, has recovered from losing over £100m to return to profit.
The Hertfordshire-headquartered business has posted a pre-tax profit of £10.4m for 2024 after having slumped to a loss of £104.6m in 2023.
The business has also reported a turnover of £940m for the year, up from the £880m it achieved in its prior 12 months, according to its latest annual report.
Sir Robert McAlpine was founded in 1869 and also built London’s Dorchester Hotel, One Canada Square, The O2, the Millennium Bridge and Arsenal’s Emirates Stadium.
Other projects have included the original Wembley Stadium, Hyde Park Barracks, Cornwall’s Eden Project and the Bull Ring in Birmingham.
Sir Robert McAlpine is also involved in delivering HS2.
Sir Robert McAlpine sees ‘bright future’
Chief executive Neil Martin said: “In response to the turbulence of recent years, in 2023 we implemented our strategy of Focus and Adapt.
“We are now starting to see the benefits of this work, as reflected in our stable performance in 2023/24.
“Across the business, our focus remains on client value, operational excellence in delivery and targeting the right opportunities.
“It is a way of working which allows us to draw deeply on the industry-leading expertise of our supply chain partners all of whom share our commitment to best-in-class delivery.
“We continue to feel a strong pull from existing and new clients who recognise our ability to deliver sustainable engineering solutions to complex construction challenges.
“Our pipeline is strong, and I am confident that through the talent and commitment of our people, we are on the path to a bright future.”
Sir Robert McAlpine said that since the start of the year it has secured additional works for Agratas at its battery cell manufacturing facility in Somerset.
It has also been appointed by Tata Steel UK to deliver a new electric arc furnace-based steel production facility at its Port Talbot plant.