The contractor also has a pipeline worth nearly 拢1bn
Infrastructure specialist Murphy has bounced back into the black and set out plans to more than double in size by 2025.
Murphy chief executive Steve Hollingshead (pictured) said the firm is targeting more than doubling in size to 拢2bn revenue by 2025 as part of a ten-year expansion plan.
The contractor posted a 拢13.8m profit in the 2015 calendar year, after posting a 拢9.7m loss the previous year. Turnover dipped 2% to 拢647m, down from 拢658m.
Murphy attributed last year鈥檚 loss to problems on an east London combined heat and power plant.
The firm鈥檚 director Bernard Murphy said the project suffered 鈥渄ifficulties with design, cost escalation, supply chain and engine related technical breakdowns鈥� which he said 鈥渙ver shadowed what was otherwise a very satisfactory year鈥�.
The firm attributed the reduction to a drop in activity at its Australian JV Pipe and Civil Pty resulting from the slowdown in the Australian economy, as well as a reduction in activity in the UK and Ireland as projects the firm was on completed.
The contractor also reported a pipeline approaching the 拢1bn mark and said it was on course to meet expectations for the current financial year.
鈥淓conomic confidence is returning to our core markets,鈥� Murphy chairman Alastair Kerr said, adding that the contractor continued to 鈥渂enefit鈥� from the government鈥檚 increasing investment in infrastructure.
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