According to its latest annual financial results Eurovia UK has increased both profit and turnover, largely boosted by a 7.1% increase in turnover by its Ringway brand.
The brand, which delivers highway management services for local and national bodies, increased its turnover to £394.6m last year.
Turnover including joint ventures (JVs) also grew, reaching £912.1m last year, up 8.7 per cent since 2021 and almost a third more since 2018. Excluding JVs, revenue grew by 9.7 per cent to £693.4m.
In a 15-page statement with the accounts, chief executive Scott Wardrop said the “resilient financial performance” was “very much testament to our people and teams”.
“We expect in the next 10 years to see major challenges due to climate change... along with an exponential growth in digitalisation,” said Wardrop.
“We firmly believe our industry must work collaboratively with all stakeholders and avoid any greenwashing risk by overpromising net zero. We would rather work together to overdeliver through sustained and relentless innovation and constructive challenge."
Bear Scotland – a road-management and design JV involving Eurovia, Jacobs and Breedon Northern – also grew its revenue by 8 per cent to £225m, although pre-tax profit fell to £4.5m in 2022, a drop of almost 50%.
Average employee numbers across Eurovia UK were down 3 per cent to 2,799 last year, while total staff wages were almost flat at £133.4m.
Ringway Jacobs, saw a minor fall in turnover to £264m and a drop in pre-tax profit to £7m but an overall rise in its pre-tax profit margin.
“We expect in the next 10 years to see major challenges due to climate change... along with an exponential growth in digitalisation,” said Wardrop.
“We firmly believe our industry must work collaboratively with all stakeholders and avoid any greenwashing risk by overpromising net zero. We would rather work together to overdeliver through sustained and relentless innovation and constructive challenge."