Progress for Laing O’Rourke

By Sarah Ann McCay09 September 2013

Contractor Laing O’Rourk reported reports solid results for the full financial year 2012/2013, and said it expected moderate growth through to 2015.

The contractor was hit with exceptional costs of £23.4 million (€27.8 million) for the year, related to an impairment in its land and development portfolio. Stripping out this additional cost, it reported operating earings of £78 million (€93 million), up 45% year-on-year.

Gross profits increased to £57 million (€68 million), up from £23.4 million (€28 million) for its financial year 2011/12.

Revenue also showed growth, and was up 2% to £4.4 billion (€5.2 billion) from last year’s £4.3 billion (€5.1 billion).

Laing O’Rourk's order book stood at £8.2 billion (€9.7 billion) at the end of the 12 month period, with 91% of revenue secured for 2013/14. The firm saw repeat orders and contract extensions from existing clients rise 71%.

Looking ahead, the company said t it expected moderate growth in revenue and pre-tax earnings through to 2015, given the prevailing market conditions.

Latest News
Online registration open for IRE and APEX
Both shows are in Maastricht on 6 to 8 June 2023
Hybrid and fleet management launches from Bronto
Truck mount lithium Hybrid Pack and new customer cloud portal will be launched at Bauma 
Plans revealed for world’s highest ‘green’ building
Hybrid timber building to stand at 96m tall