19th in last year\u2019s CN100 index of top contractors<\/a> \u2013\u00a0to pay out \u00a320m in dividends last year, compared to nothing in 2023.<\/p>\nIt has a \u00a350m revolving credit facility, with \u00a330m\u00a0immediately available from Lloyds Bank and Santander UK, due to expire in April 2027. “There were no amounts drawn on the facility at 31 December 2024,” the accounts stated.<\/p>\n
The group reduced its employee headcount by 7 per cent to 1,594.<\/p>\n
Willmott Dixon said it won \u00a31.3bn worth of new contracts in 2024, which took its current order book to more than \u00a32.5bn.<\/p>\n
The contractor \u201csecured significant recoveries against historic provisions, improved upon our strong cash position and taken important steps in support of our overarching goals of delivering long-term predictable profits and targeted growth,\u201d chief executive Graham Dundas said.<\/p>\n
These third-party recoveries generated \u00a334.1m in cash, \u00a332.5m of which was received early in 2025, “materially improving the balance sheet that has long carried the full cost provisions”, the accounts said.<\/p>\n
However, the firm booked an exceptional cost provision of \u00a310m, related to “extensive” remedial works on an unnamed residential development completed in 2012.<\/p>\n
Willmott Dixon\u2019s executive chairman Rick Willmott pointed to the science and technology sector as an expanding opportunity for the company.<\/p>\n
\u201cWe completed our third project for Fujifilm building a research and development facility in Teesside and are currently working with Bruntwood SciTech on a hub for life sciences and innovation at Manchester Science Park, along with a new medical manufacturing facility in Witney for Abbott Diabetes Care,\u201d he said.<\/p>\n
\u201cExpanding our own reputation as a skilled and capable builder of these specialist facilities is something we intend to do over the next few years.\u201d<\/p>\n
Dundas was cautiously optimistic in his outlook. \u201cIf 2024 was a year of progress, 2025 is a year where we must continue that momentum, although the volatility we are seeing in world markets and the UK\u2019s own fragile growth forecasts will not make that straightforward.\u201d<\/p>\n
In the accounts, Willmott noted that this volatility stems partly from US President Donald Trump\u2019s tariffs policy.<\/p>\n
\u201cWhile not wishing to plagiarise an Americanism, I would describe our alert status as DEFCON 3. With the dramatic global shifts in power, sentiment, and alliances, I believe we should all, personally and corporately, be ready, vigilant and prepared to act.\u201d<\/p>\n
As chancellor Rachel Reeves is set to unveil the government\u2019s spending review, he noted the \u201cpragmatic tone\u201d the government was taking with construction industry.<\/p>\n
Willmott said the government has recognised a greater awareness that \u201cfuture economic growth relies on construction companies, like ours, delivering projects across many sectors, not least housing\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its latest set of audited accounts, for the year to 31 December 2024, the tier one contractor posted a pre-tax profit of \u00a326.8m. This compared with a \u00a314.4m loss in 2023, which …<\/p>\n","protected":false},"author":155754,"featured_media":420135,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[552,546],"tags":[],"class_list":["post-522314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-willmott-dixon"],"yoast_head":"\n
Willmott Dixon returns to profit on cladding recovery boost | Construction News<\/title>\n<meta name=\"description\" content=\"Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Willmott Dixon returns to profit on cladding recovery boost\" \/>\n<meta property=\"og:description\" content=\"Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Construction News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CN.community\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-11T11:13:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-11T11:24:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon-1024x683.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Matthew Davies\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CNplus\" \/>\n<meta name=\"twitter:site\" content=\"@CNplus\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Matthew Davies\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\"},\"author\":{\"name\":\"Matthew Davies\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/0305af17e65865ee72302bcf3ca3f77c\"},\"headline\":\"Willmott Dixon returns to profit on cladding recovery boost\",\"datePublished\":\"2025-06-11T11:13:07+00:00\",\"dateModified\":\"2025-06-11T11:24:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\"},\"wordCount\":535,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg\",\"articleSection\":[\"Financial\",\"Willmott Dixon\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\",\"url\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\",\"name\":\"Willmott Dixon returns to profit on cladding recovery boost | Construction News\",\"isPartOf\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg\",\"datePublished\":\"2025-06-11T11:13:07+00:00\",\"dateModified\":\"2025-06-11T11:24:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/0305af17e65865ee72302bcf3ca3f77c\"},\"description\":\"Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its\",\"breadcrumb\":{\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage\",\"url\":\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg\",\"contentUrl\":\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg\",\"width\":1024,\"height\":683,\"caption\":\"Rick Willmott\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.constructionnews.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Willmott Dixon returns to profit on cladding recovery boost\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/#website\",\"url\":\"https:\/\/www.constructionnews.co.uk\/\",\"name\":\"Construction News\",\"description\":\"Read UK Construction Industry News, Analysis, Opinion and data\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.constructionnews.co.uk\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/0305af17e65865ee72302bcf3ca3f77c\",\"name\":\"Matthew Davies\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/image\/a2dbb22b44f0a8e077019f0bf5917cb4\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b100be5ca91162b6967d04f703432e091d4bf36a1fdbd8e99a027154854f4acc?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b100be5ca91162b6967d04f703432e091d4bf36a1fdbd8e99a027154854f4acc?s=96&d=mm&r=g\",\"caption\":\"Matthew Davies\"},\"url\":\"https:\/\/www.constructionnews.co.uk\/author\/matthew-davies-3\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Willmott Dixon returns to profit on cladding recovery boost | Construction News","description":"Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/","og_locale":"en_GB","og_type":"article","og_title":"Willmott Dixon returns to profit on cladding recovery boost","og_description":"Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its","og_url":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/","og_site_name":"Construction News","article_publisher":"https:\/\/www.facebook.com\/CN.community","article_published_time":"2025-06-11T11:13:07+00:00","article_modified_time":"2025-06-11T11:24:08+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon-1024x683.jpg","type":"image\/jpeg"}],"author":"Matthew Davies","twitter_card":"summary_large_image","twitter_creator":"@CNplus","twitter_site":"@CNplus","twitter_misc":{"Written by":"Matthew Davies","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#article","isPartOf":{"@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/"},"author":{"name":"Matthew Davies","@id":"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/0305af17e65865ee72302bcf3ca3f77c"},"headline":"Willmott Dixon returns to profit on cladding recovery boost","datePublished":"2025-06-11T11:13:07+00:00","dateModified":"2025-06-11T11:24:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/"},"wordCount":535,"commentCount":0,"image":{"@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg","articleSection":["Financial","Willmott Dixon"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/","url":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/","name":"Willmott Dixon returns to profit on cladding recovery boost | Construction News","isPartOf":{"@id":"https:\/\/www.constructionnews.co.uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage"},"image":{"@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg","datePublished":"2025-06-11T11:13:07+00:00","dateModified":"2025-06-11T11:24:08+00:00","author":{"@id":"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/0305af17e65865ee72302bcf3ca3f77c"},"description":"Willmott Dixon moved back into the black last year after securing recoveries from third parties of \u00a334.1m related to cladding remediation work. In its","breadcrumb":{"@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#primaryimage","url":"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg","contentUrl":"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2020\/03\/rick-willmott-ceo-willmott-dixon.jpg","width":1024,"height":683,"caption":"Rick Willmott"},{"@type":"BreadcrumbList","@id":"https:\/\/www.constructionnews.co.uk\/contractors\/willmott-dixon\/willmott-dixon-returns-to-profit-on-cladding-recovery-boost-11-06-2025\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.constructionnews.co.uk\/"},{"@type":"ListItem","position":2,"name":"Willmott Dixon returns to profit on cladding recovery boost"}]},{"@type":"WebSite","@id":"https:\/\/www.constructionnews.co.uk\/#website","url":"https:\/\/www.constructionnews.co.uk\/","name":"Construction News","description":"Read UK Construction Industry News, Analysis, Opinion and data","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.constructionnews.co.uk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/0305af17e65865ee72302bcf3ca3f77c","name":"Matthew Davies","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.constructionnews.co.uk\/#\/schema\/person\/image\/a2dbb22b44f0a8e077019f0bf5917cb4","url":"https:\/\/secure.gravatar.com\/avatar\/b100be5ca91162b6967d04f703432e091d4bf36a1fdbd8e99a027154854f4acc?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b100be5ca91162b6967d04f703432e091d4bf36a1fdbd8e99a027154854f4acc?s=96&d=mm&r=g","caption":"Matthew Davies"},"url":"https:\/\/www.constructionnews.co.uk\/author\/matthew-davies-3\/"}]}},"_links":{"self":[{"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/posts\/522314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/users\/155754"}],"replies":[{"embeddable":true,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/comments?post=522314"}],"version-history":[{"count":9,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/posts\/522314\/revisions"}],"predecessor-version":[{"id":522349,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/posts\/522314\/revisions\/522349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/media\/420135"}],"wp:attachment":[{"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/media?parent=522314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/categories?post=522314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.constructionnews.co.uk\/wp-json\/wp\/v2\/tags?post=522314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}