John Sisk & Son Ltd has returned to profit with a 31 per cent jump in revenue.
The company turned over £624.9m in the year ended 31 December 2024, up by almost a third from £475m in 2023, as work increased across its key sectors, from commercial, sports & leisure and healthcare to residential, infrastructure and life sciences.
The contractor reported a pre-tax profit of £6m for 2024, having posted pre-tax losses of £9.7m and £2.6m in its previous financial years due to issues with underperforming civils contracts and legacy building safety issues.
The company hired an average of 767 people during the year, up from 716 a year earlier. Its highest-paid director was paid £362,000.
Sisk said its latest results were once again “impacted by adverse results on a small number of loss-making projects” as well as “provisions to deal with remediation costs relating to a small number of old legacy issues”.
But Steven McGee, Sisk chief operating officer, hailed an “improved year” after “a challenging period marked by legacy projects”.
“Over the past 24 months, we’ve strategically secured projects in key sectors we have been targeting, most notably in the commercial and healthcare spaces across central London,” he said.
“Our regional operations have also performed strongly, where we have delivered a major life sciences project for Moderna in Oxfordshire, and we have won places on significant infrastructure frameworks.
“The formation of our newly consolidated Sisk Infrastructure business unit now gives us greater capacity to deliver for clients across critical sub-sectors, including transport, energy, marine and aviation supported by our key services subsidiary businesses, Vision Built, Sisk Rail and Fuse Rail.”
The Sisk Infrastructure business unit, as well as the subsidiaries providing specialist services to rail operators and offsite manufacturing in England and Wales, are not part of John Sisk & Son Ltd.
Instead, they form part of its parent, Sisk Group ─ a €2.5bn (£2.16bn) turnover company headquartered in Ireland, with operations in Belgium, Poland, Sweden and the Middle East.
Earlier this month John Sisk & Son agreed to acquire Farrans Construction from building materials provider CRH.
The deal remains subject to regulatory approval from Ireland’s Competition and Consumer Protection Commission.
In the 2024 CN100 list of the top UK construction firms by turnover, John Sisk & Son sat at number 56, with revenue of £350.7m.
Read More
Will Ing