Willmott Dixon is targeting a £1.5bn construction business, after securing nearly £750m of new work in the first half of the year. The company said the orders laid the foundations for revenue growth from 2027, with defence and healthcare expected to spearhead the expansion.
The construction division turned over £1.03bn last year, so the £1.5bn ambition represents a substantial step up in scale. Chief executive Graham Dundas said the priority for this year had been to convert a record level of preconstruction appointments into main contracts.
The goal applies to the construction division, while the wider group also includes the relaunched Willmott Dixon Developments business, which pursues growth through regeneration partnerships with the public sector.
By the end of July the contractor had secured £747m of new work, 89% of it under main contract. Dundas said that gave the business secure and visible revenue for 2027 and beyond.
Profit up as revenue edges lower
Group pre-tax profit climbed 15% to £11.5m in the six months to June. Revenue edged down to £545m from £548m over the same period, which the company put down to major starts taking time to come through.
Willmott Dixon now holds a £1.37bn secured order book, with more than £3.5bn of identified workload taking its total pipeline to around £5bn. Frameworks remain the main engine of orders, generating roughly 90% of new work.
Education delivers the biggest wins
Civic and education projects feature heavily among recent awards. Education produced the largest contracts, led by the £93m College of North West London campus at Wembley and the £58m Mosslands secondary school. Other secured schemes include £28m of affordable homes at Princes Gate in Oldham for Muse, Portsmouth's £22m Bransbury Park Leisure Centre and a £16m fire station in Bath.
Balance sheet and development arm
The group strengthened its cash position to £127m with no debt, alongside record shareholders' funds of £190m. Those figures matter commercially, Dundas suggested, because clients weigh financial resilience heavily when they pick a contractor.
Its relaunched Willmott Dixon Developments arm, which sits alongside the contracting business, is also hunting growth through public sector regeneration partnerships, most recently securing the £100m Baytree Shopping Centre scheme in Brentwood with Milligan.
Cost pressures still squeezing clients
Dundas warned that cost pressures were still squeezing customers and suppliers, with global conflicts continuing to push up energy, fuel and material costs. He said financial resilience and a proven delivery record mattered more than ever when customers chose who to work with. Converting preconstruction appointments into signed contracts remains the stated focus for the year.