Mott MacDonald has achieved a record £2.5 billion in revenue, alongside a remarkable nearly fourfold increase in its net funds over the past five years, highlighting its strong financial growth and stability in a challenging market environment.
Employee-owned engineering consultancy, Mott MacDonald has reported a record turnover of £2.5 billion for the year ended 31 December 2024, marking a six per cent increase from £2.3 billion in 2023.
Operating profit rose 9.5 per cent to £100.6 million (FY2023: £91.9 million), while pre-tax profit improved by 9.1 per cent, reaching £123.2 million (FY2023: £112.9 million), with similar margins to the previous year for both at four per cent and 4.9 per cent, respectively.
The 18,769-strong company’s financial resilience is underscored by a significant increase in net funds, which grew 385.4 per cent from £83.6 million in 2019 to £405.9 million in 2024.
Its latest financials show the company experienced a 13.1 per cent rise in net cash inflow from operations, totalling £114.1 million (FY2023: £100.8 million).
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While the consulting sector experienced slower growth due to weaker infrastructure markets and project delays, the contracting business in the UK’s water sector grew 31 per cent, benefitting from opportunities in the UK’s regulated Asset Maintenance Programmes (AMP).
Geopolitical disruptions and economic uncertainty, including fluctuating inflation and interest rates, have continued to challenge global markets.
Despite this, Mott MacDonald continued to secure key projects, including support for National Grid’s renewable energy initiatives and a partnership with Holtec Britain and Hyundai Engineering & Construction on small modular reactor technology.
Chief executive, James Harris said the company had navigated a challenging year, despite disrupted markets, with growth rates steady, albeit slower than in 2022 and 2023.
“We finished the year with a positive set of lead indicators for winning work, order book, business prospects and profitability of projects recently bid and/or won,” he said.
“At this stage, there appears to be a more optimistic market picture for 2025 as evidenced by those lead indicators and market sentiment.
“Geopolitical uncertainty will continue to be a significant disrupter for government focus and for government finances across the world.
“However, we are confident with our judgement on markets, clients and opportunities and that we can progress successfully with the agility required to shape the business and keep it focused on delivering profitable growth.”
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