Revenue and profit up for Multiplex


Multiplex Construction Europe has delivered a ‘strong’ performance in its latest financial results.  

Credit: Multiplex Construction Europe.

Revenue for the year ended 31 December 2023 was £675 million compared to £562 million in the previous financial period, generating profit after tax of £23 million, up by £5 million on FY2022.  

The contractor also posted EBITDA earnings of £38 million, a £22 million increase on the prior year.  

Future revenue on secured contracts (construction backlog) stood at £1.1 billion at year end, in line with FY2022 results. 

The group workbook at the end of the financial period was £2.9 billion (FY2022: £2.4 billion) and included four mixed-use projects worth £2 billion, five commercial jobs worth £800 million, and education projects valued at £100 million.  

Main contracts in the period included One Exchange Square for property investment manager LaSalle, 76 Upper Ground for IBM on the Southbank in London, and Bankside Yards for Native Land, also on the Southbank. 

Multiplex ended the period with £37 million of cash and cash equivalents, down from £67 million in FY2022, but at the time also reported no external debt.  

No dividend was declared during the year (FY2022: £Nil) nor after the reporting date.  

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