Revenue stands firm at 拢1bn, while pre-tax profit falls 26%
Willmott Dixon has posted solid results for the year ended 31 December 2012 in what chief executive Rick Willmott described as a 鈥渄ire鈥� market.
Turnover stood firm at 拢1bn, while pre-tax profit fell 26% to 拢15.7m from 拢21.1m the previous year.
Willmott (pictured) said the firm had shown 鈥渞esilience鈥� in matching the previous year鈥檚 revenue, despite a 鈥渉uge contraction鈥� in building markets.
He added: 鈥淗ad our company flexed with the market and followed the [contraction] trend, we would have become a sub-拢600m turnover group.鈥�
Willmott admitted pre-tax profit was 鈥渇ractionally below our target minimum profit level鈥�.
Revenue at the firm鈥檚 Capital Works division, which includes construction, housing and interiors and is led by divisional chief executive John Frankiewicz, fell to 拢903m from 拢966m.
This drop was partly compensated for by growth elsewhere, including an increase in revenue in the Support Services business led by divisional chief executive Chris Durkin 鈥� to 拢110m from 拢83m.
The contractor鈥檚 headcount increased during the year to 3,138, up from 2,845 the previous year.
Wilmott added his focus was 鈥渕anaging a substantial organisation in a dire market, whilst retaining the cultural and ethical attributes upon which we pride ourselves.鈥�
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