{"id":895737,"date":"2026-03-31T07:11:52","date_gmt":"2026-03-31T12:11:52","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/31\/margin-squeezed-at-multiplex-despite-jump-in-turnover\/"},"modified":"2026-03-31T07:11:52","modified_gmt":"2026-03-31T12:11:52","slug":"margin-squeezed-at-multiplex-despite-jump-in-turnover","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/31\/margin-squeezed-at-multiplex-despite-jump-in-turnover\/","title":{"rendered":"Margin squeezed at Multiplex despite jump in turnover"},"content":{"rendered":"
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\"Workers<\/p>\n

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Profit at Multiplex halved in 2025 due to a gap between large projects completing and new ones ramping up.<\/p>\n

In annual results for the year to 31 December 2025, Multiplex Construction Europe posted revenue of \u00a3973m, up a quarter from \u00a3780m in 2024, while pre-tax profit fell from \u00a319.5m to \u00a39.8m.<\/p>\n

This pushed pre-tax margin down from 2.5 per cent to 1 per cent.<\/p>\n

\u201cThe difference in profitability is a result of significant newly secured projects being in their infancy in 2025 while two large projects completed in 2024,\u201d the firm said.<\/p>\n

Multiplex said its order book remained at \u00a33.4bn at the end of December, unchanged year on year.<\/p>\n

That total included five mixed-use projects worth \u00a31.6bn, seven commercial schemes worth \u00a31.5bn and two higher education jobs worth \u00a3300m.<\/p>\n

The contractor said it secured two main contracts in 2025 with a combined value of more than \u00a3381m.<\/p>\n

These were 75 London Wall<\/a>, a retrofit and extension scheme in the City of London, and Minerva House<\/a>, a redevelopment and extension project near Southwark Cathedral.<\/p>\n

Multiplex also said it secured two preconstruction services agreements (PCSAs) on commercial jobs and aimed to convert four PCSAs into main contracts during 2026. It completed four projects with a combined construction value of \u00a3699m in the year.<\/p>\n

In its outlook statement, the contractor said its secured and preferred workbook gave it confidence over turnover and cashflow in 2026 and beyond.<\/p>\n

Directors said the business remained selective on risk, with a focus on client and subcontractor due diligence, liquidity and tender discipline.<\/p>\n

It ended the year with \u00a352.8m of cash and cash equivalents, up from \u00a334.6m last year, and continues to operate with no external debt.<\/p>\n

The firm grew its headcount from 544 to 701, with staff costs rising from \u00a382.0m to \u00a396.1m.<\/p>\n<\/div>\n

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At CN Intelligence you can view and filter seven years\u2019 worth of detailed financial information on the top UK construction firms via our interactive dashboards. Access in-depth written analysis of the numbers along with targeted data and analysis on specialist contractors.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Colin Marrs<\/p>\n","protected":false},"excerpt":{"rendered":"

Profit at Multiplex halved in 2025 due to a gap between large projects completing and new ones ramping up. In annual results for the year to 31 December 2025, Multiplex Construction Europe posted revenue of \u00a3973m, up a quarter from \u00a3780m in 2024, while pre-tax profit fell from \u00a319.5m to \u00a39.8m. This pushed pre-tax margin<\/p>\n","protected":false},"author":1,"featured_media":895738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30425,11],"tags":[],"class_list":{"0":"post-895737","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-margin","8":"category-squeezed"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/895737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=895737"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/895737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/895738"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=895737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=895737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=895737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}