Profit at Laing O’Rourke doubles but building safety defect provisions head north again
Summary
Laing O’Rourke reports a stronger financial performance, with profit doubling and a record order book, but it has also increased provisions for building safety defects again. The article indicates that exceptional items rose to £48m, suggesting ongoing costs linked to remediation and related liabilities.
Why it matters
Building safety defect provisions can affect the financial stability and delivery capacity of major contractors involved in residential and mixed-use projects. Surveyors should note the continued scale of remediation-related costs, as these can influence project risk, procurement, and the wider market for defect identification and rectification.
Key points
- Profit has doubled and the firm says its order book is at a record level.
- Building safety defect provisions have increased again.
- Exceptional items have risen to £48m.
- The article points to continuing financial pressure from remediation liabilities.
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