Focusing on the bottom line is paying of for the contracting giant as pre-tax profits for the year to March 31 2026 rose to £80.1m from £41.4m last time as turnover fell to £3.69bn from £3.95bn.
The company said the latest numbers reflect a “deliberate shift towards prioritising margin improvement.”
Laing O’Rourke also reported a record order book of £17.2bn – equivalent to more than four years’ revenue.
Both turnover and profits were up sharply at the European Hub where revenue rose to £2.56bn from £2.27bn and pre-tax profit increased to £76.6m from £14.4m.
It was a different story at the Australia hub where turnover fell to £1.1bn from £1.67bn and pre-tax profit slid to £24.6m from £28.4m.
Exceptional items continued to drag the numbers down across the group with £47.7m of costs associated with Building Safety Act works in the UK and a historic claim in Australia.
Group Chief Executive Officer, Cathal O’Rourke said: “This is the platform to invest in our people and the technology that will help us reimagine the construction industry.
“We have a moral imperative to revolutionise our industry and the industrialised construction methods we have long pioneered reduce manual strain, improve the safety and wellbeing of our people and deliver certainty and quality for our clients.
“Our results are a reflection of the trust we have built with our people and our partners as we continue to imagine what’s possible for the future of the construction industry.”
Group Chief Financial Officer Paul Teasdale said: “This growth has been achieved while maintaining disciplined focus on the right projects, in the right sectors and the right contract structures.
“As a result, the Group is exceptionally well positioned to capitalise on the significant infrastructure opportunities that are emerging across our core markets.
“We enter FY27 from a position of considerable strength. With record levels of secured work, a high-quality pipeline of future opportunities and a relentless focus on operational excellence, we are well placed to continue delivering sustainable growth while pushing the boundaries of what is possible in modern construction.”
