{"id":496521,"date":"2024-03-26T11:59:19","date_gmt":"2024-03-26T11:59:19","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=496521"},"modified":"2024-03-26T17:01:49","modified_gmt":"2024-03-26T17:01:49","slug":"multiplexs-european-profit-soars","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/financial\/multiplexs-european-profit-soars-26-03-2024\/","title":{"rendered":"Multiplex\u2019s European profit soars"},"content":{"rendered":"<p>Multiplex has almost trebled its profit in Europe after a \u201cstrong\u201d year.<\/p>\n<p>The London-based arm of the Australian contracting giant reported pre-tax profit of \u00a331m for the 12 months to 31 December 2023.<\/p>\n<p>This was up from \u00a311.1m in the previous year, and just \u00a32.6m in 2021.<\/p>\n<p>Revenue rose by a fifth to \u00a3675.4m in the latest period but remained below the \u00a3793m posted two years earlier.<\/p>\n<p>Staff numbers were down slightly to an average of 625 in 2023, while total employment costs grew by 5 per cent to \u00a378.9m.<\/p>\n<p>At \u00a337m, cash holdings at the end of last year were \u00a330m lower than at the conclusion of 2022. But the company\u2019s order book was a fifth higher at \u00a32.9bn.<\/p>\n<p>A directors\u2019 report included with the accounts said Multiplex Construction Europe had \u201cperformed strongly\u201d in 2023.<\/p>\n<p>\u201cWe neared or reached practical completion on several large schemes, secured several new projects, successfully completed three jobs and made continuous incremental technical, operational and other improvements that will set us up for ongoing success,\u201d it added.<\/p>\n<p>Major London contracts secured last year included the upgrade of the IBM building at 76 Upper Ground, creation of 39,000 square metres of workspace at <a href=\"https:\/\/www.constructionnews.co.uk\/contracts\/construction-league-tables\/major-london-deals-help-multiplex-top-the-league-table-09-10-2023\/\">One Exchange Square<\/a> and a 50-storey residential tower at <a href=\"https:\/\/www.constructionnews.co.uk\/buildings\/multiplex-starts-work-on-190m-south-bank-tower-20-02-2024\/\">Bankside Yards<\/a><\/p>\n<p>Meanwhile, the City of London Corporation <a href=\"https:\/\/www.constructionnews.co.uk\/brexit\/multiplex-hq-faces-demolition-under-54-storey-tower-plan-24-10-2023\/\">last year received<\/a> preliminary notification of a proposal for a 54-storey skyscraper at 99 Bishopsgate, which includes Multiplex Europe\u2019s HQ.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multiplex has almost trebled its profit in Europe after a \u201cstrong\u201d year. The London-based arm of the Australian contracting giant reported pre-tax profit of \u00a331m for the 12 months to 31 December 2023. This was up from \u00a311.1m in the previous year, and just \u00a32.6m in 2021. Revenue rose by a fifth to \u00a3675.4m in &#8230;<\/p>\n","protected":false},"author":87938,"featured_media":454788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[552,541],"tags":[],"class_list":["post-496521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-multiplex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Multiplex\u2019s European profit soars | Construction News<\/title>\n<meta name=\"description\" content=\"Multiplex has almost trebled its profit in Europe after a \u201cstrong\u201d year. 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