In the year to 31st December 2024 Murphy Group made a pre-tax profit of £83.9m, up 26% on the previous year. (2023: £66.8m). Revenue dipped 2% to £1,398m due to a combination of continued contract selectivity and the timing of project completions in Canada.
Operating profit was up 11% to £79.6 million and there was a 15% rise in net cash to £400.5m.
Murphy’s operating margin in 2023 was already at 5.2%, which is unusually high for UK construction contracting. In 2024 it improved to 6.3%.
The board said that the results “underline the strength of Murphy’s diversified business model across the UK, Ireland and North America”.
With a record £5.4 billion order book and strong momentum into 2025, Murphy is confident in its long-term growth outlook, supported by strategic international expansion and infrastructure investment across its core markets.
Chief executive John Murphy said: "I’m pleased to share that we’ve delivered another strong year of growth, marked by consistent year-on-year improvements in both our financial results and operational performance, while remaining firmly committed to delivering world-class infrastructure. These achievements reflect the dedication and capability of our people, our continued emphasis on sustainable business practices, and the strength of our customer relationships.
“Throughout 2024, we successfully navigated economic pressures, changes in government policy and inflationary pressures, demonstrating the Group’s resilience. The sector's significant investments in transportation, water and energy infrastructure, underpins our confidence in the future with Murphy well-positioned to capitalise on the opportunities these investments bring.
"As we look ahead to our 75th anniversary in 2026, our ‘Murphy at 75’ vision, to be the leading family-owned construction business in the regions where we operate, is firmly within sight. Our primary focus remains on achieving long-term, sustainable growth, built on our ability to deliver reliable, high-quality outcomes for our customers and to leave a positive, lasting impact through our work and in the communities we support."
Murphy’s UK project highlights in 2024 included:
- completing civil works at Oswestry Water Treatment Works for United Utilities
- completing tunnelling activities on London Power Tunnels 2 as part of the Hochtief Murphy joint venture for National Grid.
- building new railways stations at Beaulieu and Cambridge for Network Rail.
- making progress on the Twinstead Green grid supply point for National Grid, including installation of the first super grid transformer.
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