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Sun July 03 2022

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Vinci grows UK revenues by more than a third

9 May French construction conglomerate Vinci grew its UK revenues by 37% in 2021 and profits by more than 60%.

Vinci subsidiary Bachy Soletanche installed the foundations for the All England Lawn Tennis Club expansion
Vinci subsidiary Bachy Soletanche installed the foundations for the All England Lawn Tennis Club expansion

In the year to 31st December 2021, Vinci plc generated revenue of £1,174m (2020: £858m) and made a pre-tax profit of £26.1m (2020: £16.2m).

Vinci Construction UK Ltd generated 2021 revenue of £1,166m (2020: £849m) and made a pre-tax profit of £23.6m (2021: £12.5m).

Turnover in the building division turnover improved from £381m in 2020 to £485m in 2021, with an operating profit of £11.6m (2.4% margin).

The civil engineering division, Taylor Woodrow, turned over £319m. It is benefiting from HS2 work but faces uncertainty in highways. The annual report says for Taylor Woodrow: “Our turnover forecast for 2022 is in a similar position as for 2021 with £346m secured of a predicted budget of £366m. However, the loss of the A417 highway project and the similar uncertainty around the A358 highway project means that generating profitable turnover for 2023 will be the focus of the business in 2022.”

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