The UK’s second-biggest steel contractor, William Hare, continued to lose money last year, although its total loss for the period more than halved from the previous financial year.
The company’s accounts at the end of December 2022 showed a pre-tax loss of £853,000, compared with £2.2m in 2021.
William Hare’s turnover rose slightly, from £239.5m to £248.3m. The company also had cash of £20m at the end of the year, up from £18.9m in the previous year’s accounts.
The company has recently worked on major projects such as Hinkley Point C and Battersea Power Station.
William Hare said its year-end order book position was “extremely strong”, with “significant further contracts” awarded in 2023.
He added: “It is encouraging that quality projects continue to come to market and that the range of opportunities remains, reflecting the group’s position both globally and in the UK.”
The firm said factors such as its healthy order book and balance sheet put it “in a strong position to withstand current and future market conditions and to take advantage of future market opportunities.”
William Hare employed an average of 1,771 workers in 2022, of which 779 were in the UK.
