McLaren on course for 75% increase in turnover

McLaren Construction Group is set for an increase in turnover of 75% on the past year, the contractor’s latest financial results reveal.

The results, revealed to Building this week, show turnover for the year ending July 2011 was £267m, with secured projects for 2011/12 being in excess of £380m.

Kevin Taylor, McLaren Construction Group chairman, said the growth was achieved despite challenging industry conditions and was the result of a targeted new business strategy that prioritised repeat business with blue chip customers.

He said the group had continued to expand its customer base in London, with key projects and recent contracts secured over the next financial year including British Land and USS’ Whiteley Village development, the completion of Tottenham Hotspur’s training academy, central London commercial developments for Stanhope and Allied London, and McLaren Property’s student accommodation projects in Cambridge, Oxford and London.

Taylor said: “It’s been a challenging 12 months for our industry and we are pleased to announce such a strong performance. The results are testament to the levels of investment and the application of a focused business plan across our group of companies.

“With the introduction of our new company and management structures we are looking to the future. This will enable the continuation of our achievements to date while maintaining our growth, and protecting our strong reputation for excellent service and delivery that we have built.”

Taylor said that as part of McLaren’s growth strategy the business would be restructuring to form an internationally based group of companies, which will enable it to continue its growth and diversification.

Taylor, who is now chairman of the new international group of firms, said the group would focus on the strategic development of the business worldwide.