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News » UK » New focus boosts Willmott Dixon » published 5 Jun 2018

New focus boosts Willmott Dixon

Willmott Dixon has reported increased revenue and profits in its construction activities after hiving off non-core activities.

Chief executive Rick Willmott Above: Chief executive Rick Willmott

At the beginning of 2017 Willmott Dixon span out its Be Living and Fortem subsidiaries, in property development and facilities management respectively.

In the year to 31st December 2017 the remaining core Willmott Dixon business made £35.5m profit before tax and amortisation, up 14% on 2016’s £31.1m on a like-for-like basis.

Turnover rose to £1.30bn (2016: £1.22bn).

At year-end the company had £82.8m cash and bank balances (2016: £81.2m).

Chief executive Rick Willmott said: “Since Willmott Dixon demerged Be Living and Fortem at the beginning of 2017, we’ve made great progress in our strategy to focus solely on our primary capability of being a constructor of choice for our customers. This is especially the case as we can provide access to procurement routes and solutions tailored to meet their needs for value and efficiency.

“The move to focus on our core business of construction and fit-out is consistent with what I think will be a general trend towards de-layering and simplification of business models in the construction sector.  We have chosen to clearly structure our business around core competency, working with customers to ensure we deliver not only great capital projects but also social value and community benefit working through the best supply chain partners.  It gives us the shape and balance to continue being well placed to respond to inevitable future changes in how our industry operates.”

 

 

MPU

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This article was published on 5 Jun 2018 (last updated on 5 Jun 2018).

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