{"id":14504,"date":"2023-03-22T20:30:55","date_gmt":"2023-03-23T03:30:55","guid":{"rendered":"https:\/\/essential.construction\/news\/multiplex-profit-rebounds-as-margin-restored-to-2-9\/"},"modified":"2023-03-22T20:30:56","modified_gmt":"2023-03-23T03:30:56","slug":"multiplex-profit-rebounds-as-margin-restored-to-2-9","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/multiplex-profit-rebounds-as-margin-restored-to-2-9\/","title":{"rendered":"Multiplex profit rebounds as margin restored to 2.9%"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div>\n<p>The improvement came despite a sharp fall in revenue last year to \u00a3562m, due to jobs completing and a hiatus in progress at its One Nine Elms tower job caused by client finance issues.<\/p>\n<p>Robust project operational delivery saw pre-tax profit restored to \u00a311m, up from just \u00a32.6m in 2021.<\/p>\n<p>Before extra administration and finance costs, Multiplex said this equated to a construction margin of 2.9%.<\/p>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"139541\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fwww.mabeyhire.co.uk%2F%3Futm_source%3DConstruction%2BEnquirer%26utm_medium%3DDigital%2Bad%26utm_campaign%3DGo_Campaign%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" target=\"_blank\" onclick=\"track_ad_click(this);\"><\/a><\/div>\n<\/div>\n<p>Multiplex\u2019s UK managing director Callum Tuckett said the firm has just enjoyed a strong period of work winning which would start to deliver meaningful turnover this year and beyond.<\/p>\n<p>Multiplex\u2019s orderbook stood at \u00a32.4bn (2021: \u00a32.7bn) at the year-end and included three multi-use projects worth \u00a31.8bn, five commercial projects worth \u00a3450m and several higher education wins worth \u00a3150m.<\/p>\n<p>He said Multiplex had also secured several pre-construction services agreement deals in 2022 and in early 2023 valued at over \u00a31bn.<\/p>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"461815\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fwww.eventbrite.co.uk%2Fe%2Fciob-conservation-conference-new-ideas-for-tough-times-registration-520409638237%3Futm_campaign%3D13796014_Conservation%2BConference%2B2023%2B-%2B3%26utm_medium%3Demail%26dm_t%3D0%252C0%252C0%252C0%252C0%26utm_source%3DCIOB%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" target=\"_blank\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/02\/CIB316.Animated_MPU_Final_v4.gif\" alt=\"-\"><\/a><\/div>\n<\/div>\n<p>These included the fit-out of the former US Embassy in Grosvenor Square, redevelopment of the grade II-listed\u00a0 IBM building on London\u2019s South Bank, known as 76 Upper Ground, and the 50-storey residential tower at Native Land\u2019s Bankside Yards scheme near Blackfriars Bridge.<\/p>\n<p>Tuckett added that further PCSA\u2019s had been secured on several commercial schemes, which Multiplex aimed to convert into main contracts this year.<\/p>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"472353\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fwww.british-gypsum.com%2Fgyplyner-xternal%3Futm_source%3Dconstructionenquirer%26utm_medium%3Dwebsite-banner-mpu%26utm_campaign%3D10-8-i1%2C11-7-gyplyner-xternal%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" target=\"_blank\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/03\/1679542255_168_SGIS_-_GypLyner_Xternal_-Construction Enquirer_MPU.gif\" alt=\"-\"><\/a><\/div>\n<\/div>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"95499\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fcisrs.org.uk%2F%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" target=\"_blank\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/02\/CE_CISRS-MPU_23.gif\" alt=\"-\"><\/a><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5143531171910809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- News - Bottom -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-5143531171910809\"\r\n     data-ad-slot=\"8320848692\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.constructionenquirer.com\/2023\/03\/22\/multiplex-profit-rebounds-as-margin-restored-to-2-9\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The improvement came despite a sharp fall in revenue last year to \u00a3562m, due to jobs completing and a hiatus &#8230; <a title=\"Multiplex profit rebounds as margin restored to 2.9%\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/multiplex-profit-rebounds-as-margin-restored-to-2-9\/\" aria-label=\"Read more about Multiplex profit rebounds as margin restored to 2.9%\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[],"class_list":["post-14504","post","type-post","status-publish","format-standard","hentry","category-construction-enquirer","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/14504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=14504"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/14504\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=14504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=14504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=14504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}