In the six months to June, pre-tax profits of £10m were recorded, this was after a loss of £14.4m over the whole of 2023.

Turnover was consistent over this time with £561m, compared to £589m at the same point in 2023.

This has improved the company’s financial position. It now has £109.3m in cash at the bank, with shareholder funds increasing to £166m from £158.8m.

Willmott Dixon is also debt free with access to commit bank facilities of £30m. 

Over the first half of the year, Willmott Dixon booked over £1bn of work which contributed to its record-sized pipeline. Nearly all the company’s budgeted work, of 98%, for 2024 is now contracted.

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Commenting on these figures, Willmott Dixon’ CEO Graham Dundas who joined at the start of the year - attributed this to improving demand for construction work with over 55% of work coming from repeat customers. 

Looking ahead, Graham said the recent collapse of ISG was “sad” and while he did not want to see a competitor fail, this still highlighted the competitive edge of the company. 
“Alongside the failure of ISG, the requirements of the Building Safety Act will see a further shift in customer mindset from ‘lowest bid’ to ‘best quality’ in analysing tenders, with additional scrutiny placed on a company’s financial robustness,” said Graham. 
“While we await the new government’s spending review, scheduled for Spring 2025, demand for capital projects at national and local level will continue to drive new opportunities. As these come out for procurement via our frameworks, we will only bid for projects where we have the right resources and capabilities to deliver.”