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Liverpool One firm’s profits soar
Aug 9 2007 by Alistair Houghton, Liverpool Daily Post
THE construction firm building the £1bn Liverpool One project has unveiled a 40% rise in profits.
Laing O’Rourke, the UK’s largest privately-owned construction business, posted underlying earnings of £111.1m for the year to March yesterday.
The Dartford-based business is also behind major projects such as Heathrow’s Terminal 5 and is leading a consortium managing building work on London’s 2012 Olympic park.
Sales at the group, which employs more than 27,000 staff worldwide, jumped 33% to £3.5bn, while orders rose 50% to £8.4bn.
Chairman and chief executive Ray O'Rourke said the company's prospects remained “robust”, although the firm faced challenges from skills shortages and rising materials costs.
Laing O’Rourke is building all Liverpool One sites to the west of Paradise Street. It is also working on the scheme’s residential projects, including the One Park West apartment block on the waterfront Strand Street.
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