Willmott Dixon locks in growth with a £5bn pipeline as half-year profit rises 13%

Half year performance gives solid platform as company approaches 175th anniversary

Willmott Dixon, the privately owned construction and interiors company, publishes interim results for the six months to 30 June 2026.

Highlights:

  • Underlying profit: £12.5m before tax and goodwill amortisation, up 13% (HY25 £11.1m)
  • Profit before tax: £11.5m (HY25 £10.0m)
  • Turnover: £544.8m (HY25 £548.1m)
  • Cash: £127.3m (HY25 £122.0m), zero debt and an undrawn revolving credit facility extended to £50.0m for three years
  • Shareholders’ funds: highest ever at £190.4m (HY25 £181.3m)
  • New work: £746.7m secured across 88 contracts by the end of July, 89% under main contract
  • Pipeline: secured order book of £1.37bn, identified workload of over £3.5bn and total pipeline of £5bn*
  • Recognition: Executive Chairman Rick Willmott appointed OBE in the King’s Birthday Honours for services to the construction industry

Chief Executive Officer Graham Dundas commented:

“We have made a good start to 2026. Underlying profit is 13% ahead of last year and, with £127.3m of cash, no debt and record shareholders’ funds, we are moving forward from a position of strength. Our priority this year was to convert our record level of preconstruction appointments into main contracts. By the end of July, we had secured £746.7m of new work, 89% of it under main contract, which gives us secure and visible revenue for 2027 and beyond.”

Converting the pipeline into growth

Turnover was in line with last year, reflecting the timing of major starts, and work converted to main contract since January will drive growth from 2027. The largest awards are the £92.6m College of North West London campus at Wembley for United Colleges Group and the £58.1m Mosslands secondary school for the Department for Education.

New work also spans housing, leisure, blue light and defence, including affordable homes at Princes Gate in Oldham for Muse (£27.7m), Bransbury Park Leisure Centre for Portsmouth City Council (£21.7m), Bath Fire Station for Avon Fire & Rescue (£16.2m) and defence work at Kendrew Barracks. Around 90% of new work came through more than fifteen frameworks, which gives us excellent geographic coverage and access to a large customer base that benefit from our work.

Hospital 2.0 Contractor Alliance Reception-with Truro CEO mid res.jpg

Financial strength in a tougher market

Every part of our company made healthy profit contributions, and the Group’s revolving credit facility has been extended to £50.0m for at least three years, with two one-year extension options, which provides additional resilience and confidence to customers and supply chain partners during uncertain economic times.

Expanding on this, Graham said:

“Global conflicts continue to push up energy, fuel and material costs, and our customers and supply chain partners are feeling the pressure. When customers choose who to work with, financial resilience and a proven delivery record matter more than ever.”

Summer handovers included the £100.0m Student Village for the University of Staffordshire, Greenheys in Manchester, the £60.0m new national home of UK Biobank, and four buildings for four police forces. At Derriford Hospital in Plymouth, the £140.0m Emergency Care Building, the first Wave 1 project to start on site under the New Hospital Programme, was topped out less than twelve months after work began last year.

University of Staffs opening event Sept 2026 WD.jpg

New routes to growth

Launched in June, Building Our Future is the 2030 strategy for our construction division. It sets an ambition for Willmott Dixon Construction, which alone turned over £1.03bn in 2025, to become a £1.5bn business, with deliberate expansion in defence and healthcare. Alongside it, the relaunched Willmott Dixon Developments has continued to secure new partnerships to help councils and public bodies unlock sites, including, most recently, the £100.0m Baytree Shopping Centre regeneration in Brentwood with Milligan.

Graham concluded: “Our priorities are clear: deliver the work we have won without compromising on quality or safety, and keep converting preconstruction appointments into main contracts. As we approach our 175th anniversary, our financial strength, the breadth of our frameworks and the calibre of our people give us a solid platform on which to move forward and mark this special occasion in our history.”