Latest results - FY 2016

GROUP REVENUE £2,562m +7% £2,385m in 2015
ADJUSTED OPERATING PROFIT £48.8m +26% £38.8m in 2015
ADJUSTED PROFIT BEFORE TAX £45.3m +32% £34.3m in 2015
REPORTED PROFIT BEFORE TAX £43.9m +397% (£14.8m) in 2015
ADJUSTED EPS 84.7p +34% 63.0p in 2015
FINAL DIVIDEND 35.0p +21% 29.0p in 2015
COMMITTED ORDER BOOK £3.6bn +29% £2.8bn at 31 Dec 2015
REGENERATION AND DEVELOPMENT PIPELINE £3.2bn +2% £3.2bn at 31 Dec 2015


  • Group adjusted profit before tax up 32% to £45.3m (FY 2015: £34.3m)
  • Significant improvement in cash performance; net cash of £209m and daily average net cash of £25m
  • Order book up 29% to £3.6bn
  • Total dividend up 21% to 35.0p per share
  • Divisional performances:
    • Regeneration strategy delivering strong growth; Partnership Housing operating profit up 40% to £13.4m; further good contribution from Urban Regeneration with operating profit of £13.4m
    • Another excellent performance from Fit Out; operating profit up 15% to £27.5m and further margin progression, up to 4.3% (FY 2015: 4.0%). Record order book at year end
    • Continued operational improvement in Construction & Infrastructure; operating margin up to 0.7% and adjusted operating profit of £8.9m
    • First full year profit in Property Services; operating profit of £0.7m compared to prior year loss of £1.0m