O’Halloran and O’Brien increases turnover

O’Halloran and O’Brien has reported a significant increase in turnover in its latest results. 

The Kent and Surrey contractor, whose main activities are building and civil engineering including groundworks and concrete frames, also reported a healthy cash position as part of its accounts made up to 31 March 2023.  

Highlights 

• Turnover: £271.8 million (FY2022: £228.7 million) 
• Gross profit: £29 million (FY2022: £23.3 million) 
• Operating profit: £ 8.2 million (FY2022: £11.1 million) 
• Profit before tax: £8.7 million (FY2022 £11.1 million) 
• Profit margin: 3.22% (FY2022: 4.90%) 
• Profit for the year: £7.5 million (FY2022: £9.3 million) 

Company cash (at the bank and in hand) was reported at £46.9 million, compared to £30.7 million in the previous year.  

Net assets were valued at £117.5 million (FY2022: £110 million).  

“The Covid pandemic had caused many difficult trading challenges, shortages, significantly increased materials prices and wages inflation in the previous years, which continued into 2022/23,” said the company.  

“This worsened due to the outbreak of war in Ukraine with big increases in energy prices and transportation costs, which in turn increased inflation and consequently pushed up all costs.” 

Adding: “But our consistent profits resulted from a combination of factors such as continuing focus on core activities, the strength of our management team, our smart and more efficient use of systems, procedures and technology and embracing proven modern techniques.”  

Enjoyed this? Try Construction firms say finance is ‘biggest challenge’ right now