Concrete contractor Morrisroe hails return to profit as new orderbook signals further growth in 2025

“Our results improved as legacy fixed-price contracts were largely traded through to completion in the third and fourth quarters of 2024, and more recently secured projects have performed well,” Morrisroe directors said.  

“We have focused on the things that keep the business sustainable, controlling overheads, remaining debt free and maintaining a good working capital base.  

“Our cash position and net assets have remained stable in the period, enabling our balance sheet to remain strong.” 

While turnover for the year ended 31 October 2024 fell to £103.5 million from £132.2 million the year prior, Morrisroe generated a pre-tax profit of £523,000 last year, an improved result on the £708,000 loss made in FY2023. 

At the year end, the Borehamwood-based business had net assets worth £42.5 million, roughly in line with the year before, with cash reserves of £6.5 million, again close to 2023’s figure.      

Following a £464,000 loss in 2023, Morrisroe turned it around last year, declaring profit for the year of £382,000. 

Directors said: “We are confident that our new order book will continue to provide better profitability in 2025.” 

A key aspect of the business is Morrisroe’s partnership with design and engineering practice, Kingscote Design, founded by Brian Morrisroe in 2012, which provides permanent and temporary works design services on all Morrisroe projects. 

Notable schemes by Morrisroe include Tottenham Hotspur Football Stadium, alongside Mace, The Library of Birmingham, alongside Carillion, and more recently, in London, Blossom Street for British Land, and One Broadgate, alongside McAlpine. 

Was this interesting? Try: Murphy achieves record £5.4bn orderbook with new opportunities across key market sectors in the UK, Ireland and US 

If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk