Willmott Dixon lifts half-year underlying profit 13% as it converts £746.7m of new work

Willmott Dixon has reported a 13% rise in underlying profit to £12.5m for the six months to 30 June 2026, with £746.7m of new work secured by the end of July as it converts preconstruction appointments into main contracts.

The privately owned construction and interiors company published its interim results on 15 October 2026. Profit before tax rose to £11.5m from £10.0m in the first half of 2025, while turnover was £544.8m against £548.1m a year earlier.

Graham Dundas, chief executive officer, said: "Our priority this year was to convert our record level of preconstruction appointments into main contracts." He said the £746.7m won by the end of July, 89% of it under main contract, gave the company visible revenue for 2027 and beyond.

Willmott Dixon said turnover was in line with last year because of the timing of major starts, and that work converted to main contract since January would drive growth from 2027.

The numbers

Cash stood at £127.3m at the half year, up from £122.0m at the same point in 2025, with no debt. The company's revolving credit facility has been extended to £50.0m for at least three years, with two one-year extension options, and remains undrawn.

Shareholders' funds reached £190.4m, which the company said was its highest ever, compared with £181.3m a year earlier. Every part of the group made what it described as a healthy profit contribution.

The new work was spread across 88 contracts. Willmott Dixon said about 90% of it came through more than 15 frameworks, and that its secured order book stood at £1.37bn, with identified workload of over £3.5bn and a total pipeline of £5bn.

The largest awards

The two biggest contracts in the period were 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 (DfE).

Contract	Value (£m)
Wembley campus, United Colleges Group	92.6
Mosslands school, DfE	58.1
Princes Gate homes, Oldham, Muse	27.7
Bransbury Park Leisure Centre, Portsmouth	21.7
Bath Fire Station, Avon Fire & Rescue	16.2

Willmott Dixon said the Wembley campus is due to complete in spring 2029 and targets a BREEAM Excellent rating. The Mosslands project in Wallasey was procured through the DfE Construction Framework High Value Band Lots 1 and 2 and is expected to complete in 2028.

Other awards included affordable homes at Princes Gate in Oldham for Muse, Bransbury Park Leisure Centre for Portsmouth City Council, Bath Fire Station for Avon Fire & Rescue and defence work at Kendrew Barracks.

Market conditions

Dundas said customers and supply chain partners were feeling the pressure of rising energy, fuel and material costs driven by global conflicts. "When customers choose who to work with, financial resilience and a proven delivery record matter more than ever," he said.

Summer handovers included the £100.0m Student Village for the University of Staffordshire, Greenheys in Manchester, the £60.0m national home of UK Biobank and four buildings for four police forces.

At Derriford Hospital in Plymouth, the £140.0m Emergency Care Building, which the company said was the first Wave 1 project to start on site under the New Hospital Programme, was topped out less than 12 months after work began. University Hospitals Plymouth NHS Trust announced the topping out on 4 September 2026, saying it marked completion of the building's main structural framework.

Willmott Dixon said the building is due for completion in April 2029 and will offer close to twice the capacity of the current 50-year-old Emergency Department. Its structure used 10,900 cubic metres of concrete and 1,900 tonnes of recycled steel reinforcement, saving an estimated 1,625 tonnes of carbon, according to the company.

Strategy and development arm

Building Our Future, the 2030 strategy for the construction division launched in June, sets an ambition for Willmott Dixon Construction, which turned over £1.03bn in 2025, to become a £1.5bn business, with deliberate expansion in defence and healthcare.

The relaunched Willmott Dixon Developments has also been securing partnerships with councils and public bodies. On 2 October 2026 Brentwood Borough Council appointed it and Milligan through Pagabo's Developer Led Framework to regenerate the Baytree Shopping Centre, a £100.0m scheme including a leisure quarter anchored by a cinema. Councillor Gareth Barrett, chair of the council's Assets and Strategy Committee, said the council now had a named delivery partner, a funded scheme and clear milestones.

The results also noted that executive chairman Rick Willmott was appointed OBE in the King's Birthday Honours for services to the construction industry.

Dundas said the company's priorities were to deliver the work it had won without compromising on quality or safety and to keep converting preconstruction appointments into main contracts. Willmott Dixon marks its 175th anniversary in 2027.