Firm says direct delivery model and repeat business send bottom line heading north
Murphy said pre-tax profit last year jumped by half to 拢67m as the firm said it was starting to reap the benefits of increased repeat business from its clients.
The firm, which carries out building and civils work across the UK, Ireland and Canada, said its numbers were helped by an improved performance in sectors including transportation, natural resources, power and water.
It said that 鈥渃ontinuing to invest in Murphy鈥檚 direct delivery model鈥� had also sent profit north and added: 鈥淲hile revenue marginally declined due to the timing and completion of projects in Canada, this was offset by greater activity in Ireland and the UK and this, combined with increased levels of repeat business from existing clients alongside a higher number of directly awarded opportunities, meant Murphy reported a 50% increase in profit before tax.鈥�
Turnover was down 5% to 拢1.4bn while net cash was up 26% to 拢347m. Employee numbers were up 4.5% to just under 3,900 with the group鈥檚 order book up a third to 拢3.3bn.
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