Conway revenue tops £500m
The 12% uplift in turnover to £535m in the year to March 2023 was in part due to inflation and also new work wins, such as a five-year highway construction and maintenance contract for the City of London.
The firm also secured a pot on the £1.3bn five-year National Highways pavement delivery framework for south and central England which got underway last March.
The strong inflationary pressures of the first half were mitigate by increased sales prices and active cost control measures through substitute materials.
As a result FM Conway delivered a strong operating profit of nearly £30m, slightly ahead of the previous year.
After delivered strong operating cash flow of £31m FM Conway reduced net debt by just over £10m to £42m.
In the annual report, chief executive Adam Green said that the board remained confident in the resilience of the business and expected to continue the strong performance this year with high levels of turnover.