Willmott Dixon 2015 profits nosedive

Willmott Dixon made a profit before tax and amortisation of £15.8 million, down 39% on 2014’s figure of £25.9 million.

At year-end the group’s net balance sheet stood at £174.1 million (2014: £164.4 million) with cash and liquid investments of £80.2 million (2014: £76.1 million). As of March 2016, the secured forward order book was worth £1.5 billion (at March 2016).

Willmott Dixon’s Group Chief Executive, Rick Willmott, said, “It’s been rewarding to see our continued growth across all our core activities, although as we come out of what has been a tough period for our industry, this is reflected by slightly reduced profits compared to 2014.”

Willmott Residential saw the sharpest fall in turnover, plunging from £325 million in 2014 to £231 million in 2015. Its construction sector, the group’s star performer, saw turnover rise to £866 million from £753 million in 2014.

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