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Laing O’Rourke’s annual report for the year to 31^st March 2025 shows strong profit growth and a group order book worth £11.9bn.

Operating profit for the year grew to £60.5m (2024: £39.7m) on revenue of £3,956m (2024: £3,990).

Pre-tax profit more than doubled to reach £41.5m (2024: £18.1m)

Profits were softened by around £40m of exceptional items, include £13.7m of claims provision and £21.7m defect costs related to the Building Safety Act 2022

Chief financial officer Paul Teasdale said: “We have delivered strong growth and cash generation, alongside a strategic focus on de-risking our portfolio, coupled with a strong performance from our Australian business and a robust response to inflationary pressures in the UK.

“We’ve also improved the cash position to £513.1m which after debt is a healthy net cash position of £284.7m, reflecting our prudent financial management and a disciplined approach to project delivery, giving the business a solid foundation for future sustainable growth.”

He concluded: “Laing O’Rourke demonstrated financial resilience during a period of significant international headwinds and disruption.”

Group chief executive Cathal O’Rourke said: “Our drive to create a more resilient and productive construction industry continues. We are leading the way on modern methods of construction and digital engineering, enabling us to deliver projects with greater precision and efficiency and improving safety on site. Our focus on innovation ensures we’re building for the future, not just today.

“This is our second record order book in a row which is testament to our purpose, our people and the trust our operating model has built with our clients.

“We will continue to advocate for a new paradigm for the construction industry – one that is safer, faster and achieves better outcomes. Pushing the boundaries of what’s possible, in service of humanity will continue to be Laing O’Rourke’s driving purpose and will determine our approach to projects and our people.”

Revenue for the Europe Hub saw a slight decrease to £2.3bn (2024: £2.5bn), although pre-exceptional gross profit increased to £177.0m (2024: £134.1m), boosting the gross margin to 7.8% (2024: 5.3%). The Europe Hub also improved its net cash position, reaching £66.8m, up from £15.4m a year earlier.

Revenue from the Australia Hub rose to AUD$3.3bn (2024: AUD$2.8bn but pre−exceptional EBIT dipped to AUD$90.2m (2024: AUD$100.0m).

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