Direct delivery model continues to pay off for Murphy

Grant Prior 12 months ago
Share

J. Murphy & Sons Limited has posted another set of strong financial results as its direct delivery model continues to pay off

The engineering and construction firm now employs 3,688 staff rand relies primarily on in-house capabilities while minimising subcontractor involvement.

Latest results for the year to 31 December 2022 show group revenue up to £1,491m from £1,274m last time generating adjusted pre-tax profits of £45.2m from £17.3m last time.

Net cash increased by 27% to £275.5m in 2022 while staff numbers rose to 3,688 from 3,579 and the order book grew by 13% to £2.52bn.

Chief Executive Officer John Murphy said: “Our direct delivery operating model, supported by a select supply chain, continues to be central to our unique offering.

“At a time when resources are increasingly a limiting factor across the industry, we give our clients heightened confidence of reliable delivery performance.

“I am delighted to present another year of growth for Murphy, demonstrating a continuous, year-on-year improvement in our financial performance and operational delivery as we continue to play a central role in delivering world-class infrastructure.

“These outstanding results are a testament to the hard work and dedication of our colleagues, our focus on sustainable business practices and our strong client relationships.

“As we approach our 75th anniversary in 2026, our vision to be the leading family-owned construction business in the three geographies in which we work is within reach, and we remain focused on delivering long-term sustainable growth and creating a positive and lasting legacy across our projects and the communities we serve.”

Latest news

Statom Group wins civils package to transform port site

Specialist wins major deal to start transformation of Ardersier Port
5 hours ago

Seddon Construction returns to profit

Focus on shorter term specialist work pays offs
8 hours ago

Third contractor to finally finish £135m Swansea job

Andrew Scott to finish Copr Bay after Buckingham went bust and WIllmott Dixon scaled back involvement
24 hours ago

Vistry strikes deal to build 1,750 private rental homes

Homes worth £580m will be pre-sold across 36 Vistry developments
8 hours ago

Wrekin joins civil engineering products “supergroup”

Road ironworks specialist joins forces with European firms to form Civitec
7 hours ago

Top construction chiefs call for more foreign workers

Infrastructure leaders set out blueprint for growth for next Government
16 hours ago

Swedish giant officially launches UK operation

Sortera waste trucks now on site following acquisition of GBN Services and O’Donovan
7 hours ago

Staff at surface repair specialist Merlin looking for new jobs

Workers let go as contractor "goes under without any notice"
1 day ago

JRL plans first Manchester 28 storey resi block

Contractor turns developer for £75m private flats project
1 day ago

Barratt and Springfield deal to deliver new Scottish village

Infrastructure work to start this year on £776m Durieshill site
1 day ago

Vigil for worker killed at Berkeley site

Worker hit by asphalt paver at Camden Goods Yard site
1 day ago

Weston Homes names next CEO

Housing expert Peter Gore takes over as group chief executive
1 day ago

CR Construction (UK) wins £34m historic mill restoration

UK arm of Hong Kong builder to convert Manchester's Talbot Mill to flats
1 day ago

Industry rebar supplies at risk from Chatham Docks scheme

ArcelorMittal warns it will be forced to shut Kent facility supplying 30% of UK rebar
4 days ago

Galliford Try wins £70m Oxford immigration centre

Contractor secures job to build 400-bedroom immigration removal centre at Campsfield
4 days ago

18 win £600m North Wales construction framework

Major project lot shared by Galliford Try, Kier and Morgan Sindall, Read and Wynn
4 days ago

Manchester 37-storey student tower approved

Construction to start in early 2025 at old Hotspur Press mill building
4 days ago

Kier chalks up £23m Bradford school job

New Trinity Academy in Bradford to be built in three phases
4 days ago

Subcontractors wanted across Glasgow

Register now to meet buyers at latest Constructionline event
4 days ago

M&E sector leads rise in subcontractor tender activity

Tender activity grows in first quarter but concern about project delays remain
5 days ago

Funding deal for Salford Michigan Tower job

Vermont Construction to build first 34-storey tower for developer X1
5 days ago

Court fight continues for specialist hit by CCJ blunder

Screeding contractor still fighting bureaucracy seven months after incorrect filing
5 days ago

Morgan Sindall bags £60m raft of NHS projects

Mid and South Essex NHS Trust plans six projects
6 days ago

Peri buys shoring and temporary bridge specialist Mabey Hire

Scaffolding and formwork specialist expands offer
6 days ago

Steel contractor Embrace targets £100m revenue

Growing structural steel specialist appoints COO
5 days ago

Vinci/McAlpine go-ahead for £312m Midlands hospitals revamp

Shrewsbury and Telford Hospital NHS Trust gets full business case approval
6 days ago

Lendlease puts construction arm up for sale

After two decades of global expansion Lendlease retreats to Australia
1 week ago

Mount Anvil seals Isle of Dogs estate rebuild

Firm will build 300 new homes at East London's Tiller Road Estate
6 days ago

Northumbria Uni invites bids for £75m CHASE project

12-storey student block to be demolished for new Centre for Health and Social Equity
6 days ago

Civils firm Akela appoints former Robertson director as MD

Framework expert Robert Ogg to lead growth at Scottish contractor
6 days ago

Contractor services