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William Hare powers up profit despite sales slump

admin by admin
October 31, 2026
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William Hare powers up profit despite sales slump
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But group chief executive Susan Hodgkiss warned economic and political uncertainty was clouding project start dates, with more challenging conditions ahead.

The country’s second biggest structural steelwork contractor grew pre-tax profit by 27% to £40m in 2025, despite turnover falling by a fifth to £338m.

Hodgkiss said: “The versatility and the diversification that our global footprint provides us will also stand us in good stead as we enter more challenging conditions in the second half of 2026 and into 2027.

“There is a large, varied and exciting pipeline of opportunities both in the UK and across our key international markets, but the economic and political volatility is creating some uncertainty around when projects will start.”

The results span the June 2025 takeover by Manchester entrepreneur Simon Orange, brother of former Take That singer Jason Orange and co-owner of Sale Sharks. He snapped up a controlling stake for an undisclosed sum.

Hodgkiss remains at the helm, with the family retaining a significant shareholding.

Group operating margin strengthened to 11.5% from 7%. The UK operating business, William Hare Limited, recorded a more modest margin of 6.5%, up from 5.6%, delivering £14.4m operating profit on £224m turnover.

Average staff numbers climbed to 2,350, while cash stood at £57m.

Nuclear, LNG, data centres and infrastructure remain key targets as the group chases its next wave of major jobs.

Hodgkiss added: “The current orderbook is well spread across many industry and geographic sectors. This underpins the capacity in 2026, and gives us sound footing as we look to secure some of the larger, multi-year projects that will be coming to the market in 2027.”

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