Firm hit by inflation and supply chain failures
Willmott Dixon has said it racked up a pre-tax loss of more than £5m last year.
The firm said its loss was before exceptional items – meaning the figure will change once it files it audited accounts at Companies House next week.
It said that turnover was flat at £1.2bn with construction revenue coming in at just over £1bn with its interiors arm posting income of £131m.
In a statement, the firm said its loss before tax, goodwill and exceptional items was £5.2m from an £800,000 profit last time. Chief executive Graham Dundas, who took over the role from Rick Willmott earlier this year with Willmott becoming executive chairman said: “Certain projects were materially impacted by the industry-wide problem of significant inflation, as well as key supply chain failures at critical times.”
But it said it has enjoyed a strong start to the new year with new orders in the five months to the end of May standing at £700m. It added it had a record order book of £3bn at the end of April with cash at the bank up to £115m.
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