For the year to 31 October 2025, the family‑owned contractor reported pre‑tax profit of £15.7 million, up from £10.4m in 2024 and marking a significant turnaround from the £105m loss recorded in 2023. Operating profit rose more than threefold to £11.2m, while turnover remained stable at £945.7m.

The business maintained a strong, debt‑free cash position of £141.1m and enters 2026 with a committed order book of £1.3bn, rising to £1.79bn including managed turnover. Average contracting margins improved from 0.3% to 1.2%, reflecting a disciplined approach to project selection and a sharper focus on long‑term client value.

Launched in 2023 and completed last year, the Evolve strategy has reshaped McAlpine around three core sectors:

• Industrial – including defence and nuclear
• Commercial – including heritage and major projects
• Healthcare

The restructure also strengthened leadership accountability, pushed senior decision‑makers closer to clients, and saw the divestment of the firm’s UK PPP assets to Equitix.

This tighter sector focus has enabled the business to better anticipate market needs, deploy specialist expertise where it adds most value, and remain selective in the opportunities it pursues. Headcount reduced by 11% to 1,630 as part of the reset.

Throughout the year, McAlpine prioritised early contractor involvement, collaboration and operational excellence, reinforcing its reputation for delivering sustainable engineering solutions to complex construction challenges.

Its Sustainable Engineering Excellence approach continues to embed carbon reduction, circular construction and social value into everyday decision‑making, empowering teams to drive better outcomes in design, procurement and delivery.

Chief executive Neil Martin said the business is now well-positioned for long‑term, sustainable growth.

He added: “Our strategy is delivering consistent financial performance, supported by a robust pipeline and a positive cash position.

“Our reorganisation has strengthened leadership alignment and brought us closer to our clients, enabling us to respond more effectively to their needs.”