Laing O'Rourke announces 21.5% rise in turnover

Laing O’Rourke remained bullish about its future despite tougher trading conditions, as it announced a record £9.3bn orderbook.

In its full-year results for the period ended 31 March 2008, the group revealed a 21.5% rise in turnover to £4.24bn, while profit (EBIT) jumped 63.9% to £87.7m.

Chairman Ray O’Rourke put his company’s financial success down to its growing geographical diversity, insulating it against the worst of the credit crunch. Laing O’Rourke operates arms in the UK; Europe; the Middle East and India; and Australasia.

"Our hub-based business model, coupled with the skills of our directly employed workforce, has ensured flexibility to respond to changing macroeconomic circumstances," O’Rourke said.

But the firm acknowledged that the economic climate in Europe was "worse than 12 months ago and shows little sign of improvement" and that it would remain "vigilant" to the danger of slowing orders.