Contractor posts profit after two succesive years of losses

The country’s second biggest steelwork contractor returned to the black last year after two successive years of losses.

William Hare, which is behind only Severfield in terms of income, posted a pre-tax profit of £5.8m from a loss of £853,000 last time. The firm racked up a £2.2m loss in 2021.

Chief executive Sue Hodgkiss said its order book was “well diversified” and added that revenue was up on the back of a “resurgence in international markets, as well as further growth in the UK”.

hare

Hare said income was up more than a quarter last year

Hare, which is working for Sir Robert McAlpine on British Land’s 2 Finsbury Avenue office block in the City of London, said turnover was up 27% to £316m.

The firm’s net cash at the year end was up to £27.4m from £20m with staff numbers rising to nearly 2,000 from 1,770 last time. Just over 900 are employed in the UK with the remainder in the rest of the world.

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